According to @CNBC, the Federal Reserve may opt for a hawkish cut, meaning a rate reduction with tight guidance, which could dull market festivities and curb risk appetite across equities and crypto. Source: CNBC @CNBC notes that in such a scenario the tone and forward guidance matter more than the headline cut for near term price action, raising volatility risk in S and P 500 futures, Treasury yields, the US dollar, BTC and ETH. Source: CNBC For trading, @CNBC’s warning implies close attention to the policy statement and press conference, as restrictive messaging could trigger knee jerk reversals in high beta assets and crypto liquidity. Source: CNBC