Odaily Planet Daily News Bitwise Chief Investment Officer Matt Hougan said that Bitcoin's response to moments of crisis - such as the recent pullback driven by President Trump's tariffs - depends on Wall Street's valuation of assets and its trickle-down effect on the market's "invisible hand." Although Bitcoin is often called a long-term hedge asset, it tends to pull back sharply during short-term volatility, frustrating many investors. The average decline in Bitcoin is 30% higher than the decline in the S&P 500, but those who continue to invest or buy more stocks after the pullback have an average return of up to 190% in the following year. This "fall first and then rise" is one of the common patterns in the cryptocurrency market. (The Block)