Chinese community daily briefing ===== Release date: 2025-08-30 Overall market sentiment ===== The group shows a cautious bearish sentiment towards the current market, generally believing that Bitcoin's recent performance is weak, with the key price level of 108 being tested repeatedly but lacking strong support. Members discussed that the weekly MACD death cross may lead to institutions and large holders exiting the market, while also paying attention to the significant volatility that the non-farm payroll data on September 5 may bring, believing that the current market lacks a clear direction. Hot topics ===== • Discussions on options strategies dominate, with several traders suggesting the use of a sell put strategy rather than naked shorts, believing that using complex strategies such as calendar spreads, butterflies, and condors near the 104 support level is more prudent. • The non-farm payroll data on September 5 has become an important observation point, with a large number of options positions concentrated on that date, and the market expects significant volatility, with the current IV rise providing opportunities for options trading. • On-chain data shows a sell-off pressure of 3.5 billion dollars yesterday, but interestingly, Bitcoin fell sharply while altcoins remained relatively resilient, raising deep reflections on the current market structure.