According to @ai_9684xtpa, a prominent smart money address, which previously generated significant profits from 14.81 million USDe with $2.82 million in capital, is now facing a $12.48 million unrealized loss. The source indicates these losses stem from short-selling a basket of altcoins. This situation serves as a stark warning for traders, demonstrating that even a previously successful strategy like shorting can lead to substantial losses when met with a sharp market rally, quickly erasing prior gains. The trader reportedly employed a strategy of taking larger short positions on high-market-cap assets and smaller positions on lower-cap ones, which proved ineffective against the recent broad-based uptrend.