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Crypto liquidations increased significantly after the market-wide correction over the past day. 
The cryptocurrency ecosystem showed a quick reaction toward U.S. President Joe Biden <a href="https://crypto.news/kamala-harris-bidens-exits-political-meme-coins-react/">leaving</a> the upcoming elections. This triggered a small downward momentum in the crypto space as Vice President Kamala Harris joined the presidential race. 
According to data provided by Coinglass, the total crypto liquidations increased by 150% in the past 24 hours, reaching $174 million. Due to the market-wide correction, $111 million in long positions has been liquidated. 
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 <img loading="lazy" decoding="async" width="996" height="457" src="https://crypto.news/app/uploads/2024/07/Screenshot-2024-07-22-132517.png" alt="Crypto liquidations surge 150% amid US election saga - 16"> 
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 Crypto liquidations map – July 22 | Source: Coinglass
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The amount of short positions liquidated in the past day reached $62.8 million. 
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Data from Coinglass shows that Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) is leading the chart with $49.5 million in liquidations — $27.9 million worth of longs and $21.5 million worth of shorts. Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) follows closely with $36.6 million in liquidations — $27 million longs and $9.6 million in shorts. 
Notably, the BTC price briefly touched a local high of $68,480 at around 01:00 UTC, but soon faced correction to $67,700. Bitcoin is trading at $67,100 at the time of writing.&nbsp; 
Per Coinglass, the largest BTC liquidation in the past 24 hours is worth $10.95 million and happened on Binance.&nbsp; 
Binance currently has the largest share of the 24-hour liquidations reaching almost $84 million — 66.7% of the liquidations are long positions. OKX secured the second spot with $54 million in liquidations. 
According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="">data</a> from CoinGecko, the global crypto market capitalization reached $2.6 trillion at around 00:30 UTC, a level last seen on June 12. However, the market witnessed a quick reaction from investors, with the total amount dropping to $2.56 billion. 
FiAt this point, investors and traders are speculating about Harris’ crypto stance and how her VP picks could <a href="https://crypto.news/kamala-harris-vp-picks-and-their-potential-impact-on-crypto/">impact</a> the cryptocurrency ecosystem. 
 Read more: <a href="https://crypto.news/avax-jumps-13-as-gaming-partnerships-propel-growth/"> AVAX jumps 13% as gaming partnerships propel growth </a>

Crypto liquidations surge 150% amid US election saga

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