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All coronation ceremonies are essentially expensive funerals.
Currently, at a price of 2320, it includes at least a 150 U.S. dollar worth of Wash's expected premium. If the details of the bill's implementation involve tighter regulation of DeFi than expected, this premium will disappear instantly.
The most pessimistic scenario is: the moment the bill passes is the peak of this rebound. Then a one-month period of "regulatory slow decline" begins, until Wash officially takes office on May 15 and releases the first Federal Reserve liquidity.
Warsh must liquidate more than 20 cryptocurrencies under his name in order to take office on May 15.
Although he can go through OTC, the institutions receiving the assets are not charities; they will hedge by shorting in the secondary market. If core assets like $SOL, $OP, and $ARB are sold off due to his liquidation, there could be a large dip of over 20%.
In summary, it's a pull-up followed by a crash! Or a quick drop with positive news causing a rally, with regulation implementation leading to a crash, until the first liquidity release after Wash takes office triggers a bull market.