English Community Daily Briefing #daily ===== Published: 2025-12-04 Overall Market Sentiment ===== Community sentiment is clearly divided, with bullish price action contradicting bearish expectations. Key resistance levels include BTC 94k-95k and ETH 3150-3500, and traders are divided on whether these levels will see a pullback or continued upward movement. ETH Short Volatility Squeezed ===== • Traders who sold naked call options are suffering significant losses due to ETH's unexpected surge from 2700 to 3150, a gain of over 15%. Despite relatively small positions, short call positions have resulted in a loss of over 3% on the overall portfolio. • The challenge of selling naked options is that even with a 10%+ favorable move, a wrong-direction position could result in no profit. Given ETH's volatility, traders fear a further squeeze to 3500. • The strategy for managing this position is to wait for a pullback and roll over the options rather than panic liquidate. The current maintenance margin is 40%, and the initial margin was 50%, indicating that while the volatility is painful, the exposure remains manageable. • Some traders admit they cannot fight market momentum, especially amid rumors of continued large-buying activity, forcing them to respect bullish pressure, even though their short volatility positions are still at a loss.