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The total amount of cryptocurrency liquidations increased by over two times over the past day as the global market capitalization plunged to its two-month lows. 
According to data provided by Coinglass, the total crypto liquidations rallied by 114% in the past 24 hours — currently sitting at $265 million. Data shows that $236 million worth of long positions have been liquidated. 
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 <img loading="lazy" decoding="async" width="997" height="463" src="https://crypto.news/app/uploads/2024/07/Screenshot-2024-07-04-105218.png" alt="Crypto liquidations doubled as market cap fell to 2-month-low - 31" class="wp-image-14282955">
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 Crypto liquidations map – July 4 | Source: Coinglass
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</figure> 
Per Coinglass data, only 11% of the liquidations, worth $29 million, belong to short-position holders. In total, more than 102,000 traders have been liquidated in the mentioned timeframe. 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) is currently leading the chart with over $67 million in liquidations in 24 hours. The asset’s price briefly plunged below the $58,000 mark earlier today, resurfacing FUD (fear, uncertainty and doubt) within the market. 
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The second-largest cryptocurrency, Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>), isn’t far from <a href="https://crypto.news/bitcoin-price-nears-key-support-riot-mara-and-clsk-stocks-at-risk/">Bitcoin</a> with $63.6 million in liquidations. ETH is down by 4.4% in the past 24 hours and is trading at $3,215 at the reporting time. 
Binance, the largest crypto exchange by trading volume, witnessed $112 million in liquidations with a 42% share of the total amount. OKX comes in second with $87 million in liquidations.&nbsp; 
According to data from Coinglass, the global cryptocurrency open interest decreased by 4.7% in the past 24 hours and is currently hovering around $58.5 billion.&nbsp; 
Lower market volatility and liquidations would be expected with sideways movements as the open interest plunges.&nbsp; 
Data from CoinGecko <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="">shows</a> that the global crypto market capitalization recorded a 3.4% decline over the past day, dropping to $2.29 trillion. This level has not been seen since May 1 when the market saw a short-term bullish momentum.&nbsp; 
It’s important to note that market movements are unpredictable amid market-wide FUD. A Glassnode report on July 3 revealed that Bitcoin investors are showing “indecision” as the price <a href="https://crypto.news/bitcoin-stuck-in-indecision-trajectory-as-it-fails-to-break-64k-glassnode-says/">remains</a> below the $64,000 mark. 
 Read more: <a href="https://crypto.news/2025-is-the-year-for-crypto-stablecoin-regulation/"> 2025 is the year for crypto stablecoin regulation </a>

Crypto liquidations doubled as market cap fell to 2-month-low

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