Chinese Community Daily Briefing ===== Release Date: 2025-08-04 Overall Market Sentiment ===== The group holds a cautiously bullish view on the overall market, believing that we are currently at the tail end of a bull market. Traders are generally focused on whether Ethereum can break through $4000 within 2 months, which is seen as a key indicator for the continuation of the bull market. For Bitcoin, the 200-day moving average has reached $100,000, but the weak performance of MSTR has raised concerns about the sustainability of the bull market. Hot Topics ===== • Ethereum becomes the market focus: ETH needs to break through $4000 in September-October, otherwise the bull market window will close, and traders are adopting a daily three-buy strategy to set up $4000 strike call options expiring on 9/26. • Rising financing costs for MSTR reflect changes in market risk appetite: shifting from zero-interest financing to monthly interest payments, the continuous decline in MSTR premiums suggests a significant change in market expectations for Bitcoin's future growth. • Shorting strategy on SOL/ETH cross pairs is favored: Expectations for SOL against BTC can still drop by 50%, reflecting a trend of funds concentrating from altcoins to mainstream coins.