Tom Farley on Bitcoin's Long-Term Volatility Amid Recent Price Swings

On December 2, 2025, Tom Farley, a figure with deep roots in traditional finance (ex-NYSE president) and current leadership at crypto exchange Bullish, appeared on CNBC’s “Squawk on the Street” to discuss Bitcoin’s volatility, labeling it a long-term characteristic of the asset [0]. This commentary followed a sharp December 1 sell-off—Bitcoin’s worst day since March 2025—where it fell below $85,000, resulting in $400M in exchange liquidations, before rebounding 5.46% to ~$91,045 on December 2 [1]. Farley’s analysis draws on Bitcoin’s inherent attributes, including its limited supply (21 million coins), speculative trading dynamics, regulatory uncertainty, and correlation with broader risk assets, all of which contribute to persistent price swings [0]. His dual perspective (traditional market structure expertise and crypto exchange leadership) adds credibility to his assessment that Bitcoin is unlikely to achieve the stability of traditional assets like fiat currencies or blue-chip stocks in the near term, even as adoption grows [1].

1. Farley’s background bridges traditional and crypto finance, making his volatility assessment more balanced than views from siloed industry participants [0].
2. The timing of his remarks—immediately after a sharp sell-off and rebound—highlights that volatility persists even as Bitcoin matures, challenging narratives of growing stability [1].
3. Bitcoin’s volatility is intertwined with broader market dynamics (as seen in its December 2 rebound alongside traditional markets), positioning it as a systemic risk asset rather than an isolated crypto phenomenon [1].

• Risks
  : Sustained volatility may deter risk-averse institutional and retail investors, delaying broader mainstream adoption [0]. Regulatory uncertainty, a key volatility driver, could exacerbate price swings if new rules disrupt market operations [0].
• Opportunities
  : Farley’s comments may encourage crypto exchanges (including Bullish) to enhance risk management tools and investor education programs, improving market resilience [0]. The rebound following the December 1 sell-off demonstrates that volatility can create short-term entry points for investors with high risk tolerance [1].

This analysis synthesizes the following critical data points:

• Speaker
  : Tom Farley (Bullish CEO, ex-NYSE president)
• Date
  : December 2, 2025
• Platform
  : CNBC’s “Squawk on the Street”
• Market Context
  : December 1 sell-off (<$85k, $400M liquidations) → December 2 rebound (~$91k, +5.46%) [1]
• Core Remarks
  : Bitcoin’s volatility will persist long-term; discussion of crypto security also included [0]

All findings are based on cited market data and expert commentary, with no prescriptive investment recommendations provided.