I prefer HIIT whether bulking or cutting. Physiologically, at lower intensities, say half of your VO2max, the substrate utilized for fuel will be lipids (especially if you're doing fasted cardio). At higher intensities, say 3/4 VO2max or greater, your body will switch to glucose (this is called the crossover concept) as the preferred fuel - of course this isn't ideal for fat-burning BUT during recovery later, evidence indicates that more lipid is oxidized.
So if you do low intensity you're burning fat WHILE exercising. If you do high intensity you're burning glucose WHILE exercising but you burn fat DURING RECOVERY. If you do HIIT, you're getting the best of both worlds.
If you're worried about catabolizing aminos during fasted cardio, sip BCAAs.
My .02