According to @StockMKTNewz, a clip shared on X shows Peter Lynch discussing stock market pullbacks, highlighting a key risk dimension traders must price into entries and sizing. Source: @StockMKTNewz on X, Oct 11, 2025. Historically, the S&P 500 has averaged a 14% intra-year decline even in years that ended positive, indicating pullbacks are normal within uptrends. Source: J.P. Morgan Guide to the Markets, 2024 U.S. Edition. Since 1928, the S&P 500 has seen 21 bear markets of 20% or more, framing the potential severity of equity drawdowns that long-only and hedged traders should budget for. Source: S&P Dow Jones Indices, History of U.S. Bear and Bull Markets Since 1928, accessed 2024. For crypto positioning, correlations matter: the IMF documented that the Bitcoin (BTC)–S&P 500 return correlation rose to about 0.36 during the pandemic era from near zero pre-2020, implying higher spillover risk to BTC and ETH during equity risk-off. Source: International Monetary Fund, Crypto Prices Move More in Sync With Stocks, Jan 2022. In practice, traders often mitigate timing risk by staggering entries (dollar-cost averaging) and sizing to volatility during 5–15% equity pullbacks that can propagate to crypto. Source: Vanguard Research, Dollar-cost averaging just means taking risk down a notch, 2012; IMF 2022.