At least the northern U.S. will see cold air moving in over the coming week.

Even in the southern states it can be slightly frosty in the morning.

This "cyclone bomb" is terrifying https://www.ventusky.com/?p=49.1;-27.3;3&l=pressure&t=201702...

Is it even possible?

I would guess it's a standard propagating structure. For other readers: winds at 80km/h rotating with a diameter of ~2000km. Pressure drops at 935hpa in the center

edit: at 10m above the ground. at higher altitudes, it's quite faster and with a different shape

It's not just possible its very normal. It's called the Icelandic Low.