https://t.co/cq5kcvX7Nc English Community Daily Briefing ===== Published: 2025-09-04 Overall Market Sentiment ===== Community sentiment is mixed, with some traders selling call options around current levels to take profits, but cautious optimism remains. Focus remains on BTC, with traders closely watching for a potential rally back towards the 120 level, while IBIT +10 basis points suggests potential strength, posing a challenge to short positions. Options Market Structure Shows Bearish Positioning Despite Price Strength ===== • Despite recent positive price performance, BTC skew remains broadly bearish, indicating that institutional positioning remains bullish. • Volatility has sold off, creating an interesting divergence between option pricing and spot market momentum. • Professional traders are selling call options on any upward push, while noting a disconnect between bearish derivatives positioning and positive equity flows.