I think there will be no big impacts on crypto market and no significant change in BTC price. Even if there is a change in BTC price, it will be a temporary change only (a short-term increase). If you expect a significant move in BTC price, just wait for the BTC halving in 2024!

However, it will be good for everyone in Hong Kong, it will be easier to use Bitcoin in many sectors. When BTC is fully legalized, it means that the Hong Kong government fully supports BTC. It may be almost the same as in El Salvador, the government probably plans to have a special program to utilize BTC massively there.