Asian markets kicked off the session on a cautious note, with Seoul's benchmark indices dipping at the opening bell. Traders are clearly holding their breath—all eyes locked on the Federal Reserve's upcoming rate decision.

The timing couldn't be more critical. With the Fed's policy meeting just hours away, risk appetite across global markets has taken a noticeable hit. Investors are playing it safe, unwilling to make bold moves until Jerome Powell and crew reveal their hand on interest rates.

This jittery sentiment isn't just hitting traditional equities. When macro uncertainty spikes like this, crypto markets often mirror the anxiety. Bitcoin and altcoins tend to move in tandem with risk-on/risk-off flows from legacy finance—especially when central bank decisions loom large.

So what's the play here? Watch for volatility spikes once the Fed announcement drops. If rates stay elevated or hawkish language persists, expect further pressure on risk assets across the board. Conversely, any dovish surprise could trigger sharp rallies in both stocks and digital assets.

For now, Seoul's early weakness is just one piece of a bigger puzzle—a global market holding its breath before the Fed speaks.