Bitcoin Volatility, ETF Outflows, and the Future of Stablecoins: Binance CEO Richard Teng, Ripple’s Brad Garlinghouse, and Solana’s Lily Liu Break Down the Next Market Cycle
Key Notes
Traders rotate into stablecoins as Bitcoin funding rates flip negative
ETF outflows raise questions—but long-term institutional demand remains strong
UAE regulatory clarity drives confidence as global jurisdictions diverge
Industry leaders say the next cycle will be built on real utility, not speculation
Bitcoin price predictions land as high as $180,000 for the end of next year
A Market at Crossroads: Volatility Meets Maturing Infrastructure
The crypto market entered October with a sharp pullback, more than $20 million in leveraged Bitcoin positions wiped out, and funding rates turning negative across major derivatives platforms. Traders are rotating into stablecoins rather than aggressively buying dips—an increasingly important market signal.
Yet at the same time, institutional inflows, on-chain utility, and clearer regulation in regions like the UAE are forming a powerful counter-narrative.
To unpack these competing forces, Binance Blockchain Week hosted a rare joint panel with three industry leaders:
Richard Teng, CEO, Binance
Brad Garlinghouse, CEO, Ripple
Lily Liu, President, Solana Foundation
What followed was one of the most candid conversations on the future of crypto’s macro cycle.
Richard Teng: “Institutional adoption is accelerating, not slowing down.”
Opening the panel, Binance CEO Richard Teng acknowledged the recent volatility but emphasized that the broader trend remains overwhelmingly positive.
“Volatility isn’t unique to crypto—it’s across asset classes,” Teng said. “But institutions are coming in a big way. We’ve seen institutional onboarding double last year, and double again this year.”
