According to @EricBalchunas, risk asset pullbacks should be viewed with the mindset that volatility is the price paid for higher returns, encouraging disciplined expectations during drawdowns, source: Eric Balchunas, X, Nov 9, 2025. He adds that investors unwilling to bear this volatility cost can park capital in money market funds as a low-volatility alternative during risk-off periods, source: Eric Balchunas, X, Nov 9, 2025. For crypto traders, this framework supports setting volatility budgets, sizing positions conservatively, and planning entries during BTC and ETH pullbacks rather than reacting emotionally, source: Eric Balchunas, X, Nov 9, 2025. Treating crypto volatility as a known cost can improve execution discipline and help preserve dry powder for staged buys on weakness, source: Eric Balchunas, X, Nov 9, 2025.