I would think the outcome in most universes is underwhelming. There might be a price spike, but not much of anything, and I would even think we would see a sort of reverse effect. A "sell on the news" sort of event if you will. The Bitcoin price has already been acting a little friskily. And a cool off period would be reasonable.
I did hedge my bets in my bullish post.
But I do not take back the bullish sentiment. And I expect we might see it still!

Also, brace yourselves for the "Bitcoin in ES, a FAILURE" headlines...