Ethereum experienced $71 million in liquidations as its price dipped below $4,000, reflecting significant market volatility. This downturn triggered a wave of long liquidations, impacting trading strategies globally. In response, ten whale wallets strategically acquired 201,000 ETH, valued at $855 million, from exchanges and over-the-counter trades. This activity suggests potential market bottoming, as large investors show confidence in Ethereum's recovery potential. The event underscores the ongoing volatility in crypto markets and highlights the strategic maneuvers by major players.