\begin{table}[htbp]
\centering
\begin{threeparttable}
\caption{Granger Causality Tests}
\label{tab:granger}
\begin{tabular}{l c c}
\toprule
Direction & {$F$-stat} & {$p$-value} \\
\midrule
    SPY $\to$ Fed\_NoChange & $1.28$ & 0.285 \\
    BTC $\to$ Fed\_NoChange & $1.95$ & 0.110 \\
    VIX $\to$ Fed\_NoChange & $2.73^{**}$ & 0.049 \\
    Fed\_NoChange $\to$ SPY & $2.42^{*}$ & 0.072 \\
    BTC $\to$ SPY & $2.42^{*}$ & 0.055 \\
    VIX $\to$ SPY & $1.93$ & 0.112 \\
    Fed\_NoChange $\to$ BTC & $1.51$ & 0.196 \\
    SPY $\to$ BTC & $0.30$ & 0.585 \\
    VIX $\to$ BTC & $2.12$ & 0.149 \\
    Fed\_NoChange $\to$ VIX & $4.96^{***}$ & 0.001 \\
    SPY $\to$ VIX & $1.29$ & 0.280 \\
    BTC $\to$ VIX & $3.57^{***}$ & 0.010 \\
\bottomrule
\end{tabular}
\begin{tablenotes}
\small
\item \textit{Notes:} This table reports $F$-statistics and $p$-values for pairwise Granger
causality tests. The null hypothesis is that the causing variable does not Granger-cause
the caused variable. Lag length selected by AIC. $^{***}$, $^{**}$, $^{*}$ denote
significance at 1\%, 5\%, 10\%.
\end{tablenotes}
\end{threeparttable}
\end{table}