According to @EmberCN, a trader opened an ETH short at 4,718 USD on Sep 13, saw an unrealized profit of 9.75M USD when ETH dipped to 3,815 USD by late September, but did not close the position, source: X post by @EmberCN - https://x.com/EmberCN/status/1976827376261857548; on-chain tracker - https://hyperbot.network/trader/0x091159A8106b077C13e89bC09701117e8b5F129A. According to @EmberCN, ETH rebounded to around 4,700 USD in October, giving back the unrealized gains before today’s sharp decline, source: X post by @EmberCN - https://x.com/EmberCN/status/1976827376261857548. According to @EmberCN, the trader closed the short during today’s downside wick at 3,545 USD roughly 4 hours before the post, realizing 12.66M USD in profit, source: X post by @EmberCN - https://x.com/EmberCN/status/1976827376261857548; on-chain tracker - https://hyperbot.network/trader/0x091159A8106b077C13e89bC09701117e8b5F129A. From the reported entry and exit, the trade captured about 1,173 USD per ETH over roughly 28 days, underscoring elevated ETH volatility and the PnL impact of holding through a full retrace before the breakdown, source: calculations based on the prices and dates disclosed in the X post by @EmberCN - https://x.com/EmberCN/status/1976827376261857548.