A cryptocurrency trader who grew their account from $125,000 to over $43 million faced a near liquidation of $6.2 million when Ether briefly dropped to around $4,000 amid a significant market correction. This liquidation occurred on the Hyperliquid platform, marking a rapid decline from the trader's peak profits just two days prior. The trader, identified through blockchain data, saw his profits dwindle to $771,000, showcasing the volatility in cryptocurrency trading. Other traders were also affected, such as a multimillionaire whose long Ether position was partially liquidated, reducing it to $300,000 worth. Additionally, several major wallets sold off significant amounts of Ether, contributing to a panic sell-off totaling $147 million among three large whales. However, some traders capitalized on the downturn, purchasing millions in Ether. The market is now closely monitoring US Federal Reserve Chair Jerome Powell's anticipated monetary policy speech, which could significantly influence the next movements in crypto markets.

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