Chinese Community Daily Briefing ===== Release Date: 2025-08-30 Overall Market Sentiment ===== The group exhibits a cautious bearish sentiment towards the current market, generally believing that Bitcoin's recent performance has been weak, with the key price level of 108 being tested repeatedly but lacking strong support. Members discussed that the weekly MACD death cross could lead to institutional and large holders exiting the market, while also paying attention to the potential volatility from the non-farm payroll data on September 5, believing that the current market lacks a clear direction. Hot Topics ===== • Options strategy discussions are dominant, with several traders suggesting the use of a sell put strategy rather than naked shorts, believing that composite strategies like calendar spreads, butterflies, and condors near the 104 support level are 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 increase in implied volatility providing opportunities for options trading. • On-chain data shows a sell-off pressure of $3.5 billion yesterday, but interestingly, Bitcoin fell sharply while altcoins held up relatively well, raising deep reflections on the current market structure.