The crypto community is expressing cautious bearish sentiment as Bitcoin struggles to maintain support at the critical $108 level. Discussions highlight concerns over a weekly MACD death cross potentially prompting institutional exits. Attention is focused on the upcoming September 5 non-farm payroll data, which could trigger significant market volatility. Options strategies are a hot topic, with traders favoring selling puts over naked shorts. Strategies like calendar spreads, butterflies, and condors are recommended near the $104 support level. The market anticipates notable fluctuations around September 5, with increased implied volatility offering opportunities for options trading. On-chain data reveals $3.5 billion in sell pressure, yet Bitcoin's decline contrasts with altcoins' relative resilience. This unusual capital flow pattern is prompting deeper analysis of the current market structure.