Personally, I think it'll just be a mild reaction. There was a huge initial reaction at first, but things seem to be settling down now. In fact, as I'm typing this, I just checked the 5m chart, and Bitcoin is right back to its price level before the initial drop.
Also in the grand scheme of things, even with the big tank that we saw earlier today, the lows hardly made a dent in the chart. Volume is also lackluster.
It's always difficult to decipher if the news is big enough to warrant a change in trend. My initial reaction was that we'd see something bigger than what actually happened, but from my experience, markets generally shrug off the vast majority of news after few hours or a few days.