Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintenea, on the opening bell hour of CNBC Squawk on the Street.

Good Friday morning, welcome to Squawk on the Street. I'm Carl Kintenea with Jim Kramer, David Faber, post 9 of the New York Stock Exchange.

Coming off the wildest day of trading since that April tariff shock, futures finding some relief here, as New York Fed President William says,

there's still room to cut rates, quote, in the near term.

Bitcoin does bounce after approaching 80K.

Our roadmap begins with the wild swings rocking investors this week.

InVidia, of course, wiping out almost $400 billion in market cap.

We'll talk about what investors do from here.

Plus, crypto's continued to get hit. Bitcoin is down more than 30% from its recent highs.

It is heading for what would be its worst month since the crypto collapse of 2022.

And we got a lot of Fed speak this morning as well, rates, inflation, of course, the focus

where policymakers now stand on that potential rate cut in December.

Yeah.

Let's begin with the markets after yesterday's stunning reversal to the downside, Jim.

We haven't seen reversals of that magnitude, but maybe a few times in the last three years.

Yeah, I got to take it. I mean, it's a terrible situation.

When you have that so-called island reversal, which just opens up thing and people come in, they tend to be wanting to chase that rally, thinking that there's a bottom, and they've just been eviscerated, particularly if they used any sort of margin. We have a lot of 2x, 3x stuff going on that we don't even talk about. People who are making leverage bets, maybe they don't even know they're making leverage

bets. And then, David, the immersion of what's happened to Bitcoin is really incredible.

What is it indicative of? What is it, and is it reflective of just a retail investor that

somehow- It's the end of the year of magical investing.

All that stuff.

I mean, look, they're all up today.

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