Ethereum (
ETH
) liquidations have exceeded Bitcoin’s (
BTC
) for the second time in the past week, as reported by Coinglass. Global crypto liquidations totaled $195.11 million in the last 24 hours, with ETH leading at $64.75 million in liquidations – $57.18 million longs and $7.57 million shorts. Bitcoin followed with $46.74 million in liquidations, split between $32.85 million longs and $13.89 million shorts.

These liquidations come as the global cryptocurrency market corrects, with the total market capitalization dropping from $2.53 trillion to $2.46 trillion in the past day. This marks the second time this week that Ethereum’s liquidations have surpassed Bitcoin’s, with ETH seeing $91.76 million in liquidations on May 1 compared to BTC’s $68.51 million.

Additionally, total crypto open interest decreased by 2.12% in the last 24 hours, now at $57.17 billion according to Coinglass. Santiment data shows that BTC’s total open interest fell from $10.45 billion to $10.21 billion in the same period, with the Bitcoin price dropping by 1.5% to $64,200.

ETH’s open interest also saw a 1.7% decline, now at $4.89 billion, as Ethereum’s price fell by 2.7% to $3,110. With the decrease in global cryptocurrency open interest, lower price volatility is expected for top digital assets.

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