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As expected, the bearish start in September has brought an increased amount of liquidation to the cryptocurrency market. 
According to data provided by Coinglass, the total amount of crypto liquidations increased by 176% in the past 24 hours and is currently sitting at $155 million. Most of the <a href="https://crypto.news/massive-liquidations-rock-bitcoin-and-ethereum/" target="_blank" rel="noreferrer noopener">liquidations</a> came from Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>), worth $45.6 million — $36.7 million longs and $8.9 million shorts. 
Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) witnessed $39.7 million in liquidations — $32.2 million longs and $7.5 million shorts — per data from Coinglass.&nbsp; 
The increased liquidations come as the global cryptocurrency market capitalization dropped by 2.7% over the past day, currently hovering at $2.1 trillion, according to CoinGecko <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="">data</a>.&nbsp;N 
BTC slipped by 1.5% in the past 24 hours and is trading at $57,500 at the time of writing. ETH recorded a 2% drop and is currently changing hands at $2,440. 
 You might also like: <a href="https://crypto.news/cardano-switches-to-decentralized-governance-with-chang-hardfork/"> Cardano switches to decentralized governance with Chang hardfork </a> 
Data from Coinglass shows that the largest single liquidation order, worth $10 million in the BTC/USDT pair, happened on Binance, the leading cryptocurrency exchange by trading volume. 
Binance saw a total of $74.5 million in liquidations, followed by OKX’s $49.9 million. 
According to Coinglass, bears have usually been dominant in September with the Bitcoin price seeing negative momentum in eight of the last 11 years. On average, BTC declined by 4.53% over the past 11 years in September. 
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 <img loading="lazy" decoding="async" width="1617" height="806" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-02-120608.png" alt="Bearish September brought $155m in cryptocurrency liquidations - 24"> 
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 BTC monthly price map – Sept. 2 | Source: <a href="https://www.coinglass.com/today" target="_blank" rel="">Coinglass</a>
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Notably, the <a href="https://crypto.news/bitcoins-funding-rate-shows-potential-rebound-on-the-way/" target="_blank" rel="noreferrer noopener">Bitcoin</a> price witnessed bearish momentum in the third quarter of the past two years. Per Coinglass, BTC declined by 2.5% and 11.5% in Q3 2022 and 2023, respectively. 
It’s still important to keep an eye on <a href="https://crypto.news/crypto-at-risk-of-macro-pressure-with-no-catalysts-says-coinbase/" target="_blank" rel="noreferrer noopener">macroeconomic</a> events which could potentially change the market direction.&nbsp; 
 Read more: <a href="https://crypto.news/sun-tokens-240-monthly-rally-faces-headwinds-amid-a-dip-in-open-interest/"> Sun Token’s 240% monthly rally faces headwinds amid a dip in open interest </a>

Bearish September brought $155m in cryptocurrency liquidations

crypto.news

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