Preheat oven to 350 degrees. Line two standard cupcake pan with 16 liners, set aside.
In the bowl of a stand mixer, cream the butter and sugar until light and fluffy, about 2-3 minutes. Add the vanilla extract and the almond extract.
In a medium size mixing bowl whisk together flour, cake flour, baking powder, baking soda, and salt. In a glass measuring cup mix together the buttermilk, cherry juice and chopped cherries. With mixing speed on low, alternate dry and wet ingredients, mix until batter is smooth and homogeneous (being careful not to over mix).
In a medium size mixing bowl (using a hand mixer), beat the egg whites until stiff peaks form. Fold into the batter.
Scoop the batter into the cupcake liners, filling each ¾ of the way full. Place in the oven and bake for 20-25 minutes or until the cupcakes spring back when touched. Remove from oven and allow to cool in pans for 5 minutes before removing and transferring to a wire rack to cool completely (about 25 minutes).
While cupcakes are cooling, in the bowl of a stand mixer fitted with the whisk attachment, combine butter, vanilla extract, almond extract, and salt. Beat until fluffy (2-3 minutes).
With mixing speed on low, add heavy cream, then gradually add ½ c. powdered sugar at a time until the mixture becomes soft but firm enough to hold it’s shape. Beat frosting for an additional 3 minutes until light and fluffy. If the consistency is too thick, add a little more cream and beat for 30 seconds more.
Pipe or spread onto cooled cupcakes, decorate with crushed almonds or cherries if desired.