diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4ec4eb4..4adddd6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,8 @@
 # Changelog
 
+## 0.18.1
+* Fix issue where only direct dependencies of `Current` and `CurrentInstance` classes are cleared.
+
 ## 0.18.0
 * Add better support for registry dependencies in a development environment where classes may be reloaded.
 * Add a `global_context_mutually_dependent_on` method to support registering bidirectional references.
diff --git a/lib/rails_multitenant/global_context_registry/current.rb b/lib/rails_multitenant/global_context_registry/current.rb
index 5708be7..822804c 100644
--- a/lib/rails_multitenant/global_context_registry/current.rb
+++ b/lib/rails_multitenant/global_context_registry/current.rb
@@ -34,8 +34,9 @@ def current!
           current || raise("No current #{name} set")
         end
 
-        def clear_current!
+        def clear_current!(cleared = nil)
           GlobalContextRegistry.delete(current_registry_obj)
+          __clear_dependents!(cleared)
         end
 
         def as_current(object)
@@ -73,8 +74,13 @@ def __current_default
           end
         end
 
-        def __clear_dependents!
-          GlobalContextRegistry.send(:dependencies_for, __key_class).each(&:clear_current!)
+        def __clear_dependents!(initial_cleared = nil)
+          GlobalContextRegistry.send(:dependencies_for, __key_class).tap do |dependencies|
+            next unless dependencies.present?
+
+            (cleared = initial_cleared || []) << self
+            dependencies.each { |obj| obj.clear_current!(cleared) unless cleared.include?(obj) }
+          end
         end
 
         def __key_class
diff --git a/lib/rails_multitenant/global_context_registry/current_instance.rb b/lib/rails_multitenant/global_context_registry/current_instance.rb
index 138865b..ab4794a 100644
--- a/lib/rails_multitenant/global_context_registry/current_instance.rb
+++ b/lib/rails_multitenant/global_context_registry/current_instance.rb
@@ -60,15 +60,22 @@ def as_current(model)
           self.current = old_model
         end
 
-        def clear_current!
+        def clear_current!(cleared = nil)
           GlobalContextRegistry.delete(current_instance_registry_obj)
+          __clear_dependents!(cleared)
         end
 
         private
 
-        def __clear_dependents!
+        def __clear_dependents!(initial_cleared = nil)
           key_class = respond_to?(:base_class) ? base_class : self
-          GlobalContextRegistry.send(:dependencies_for, key_class).each(&:clear_current!)
+
+          GlobalContextRegistry.send(:dependencies_for, key_class).tap do |dependencies|
+            next unless dependencies.present?
+
+            (cleared = initial_cleared || []) << self
+            dependencies.each { |obj| obj.clear_current!(cleared) unless cleared.include?(obj) }
+          end
         end
 
         def current_instance_registry_id
diff --git a/lib/rails_multitenant/version.rb b/lib/rails_multitenant/version.rb
index 9358f46..1a2afa1 100644
--- a/lib/rails_multitenant/version.rb
+++ b/lib/rails_multitenant/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module RailsMultitenant
-  VERSION = '0.18.0'
+  VERSION = '0.18.1'
 end
diff --git a/spec/rails_multitenant/global_context_registry/current_spec.rb b/spec/rails_multitenant/global_context_registry/current_spec.rb
index b4f956a..ef309cf 100644
--- a/spec/rails_multitenant/global_context_registry/current_spec.rb
+++ b/spec/rails_multitenant/global_context_registry/current_spec.rb
@@ -15,10 +15,15 @@ def initialize(id: :default)
   before do
     stub_const('SubClass', Class.new(TestClass))
     stub_const('DependentClass', dependent_class)
+    stub_const('CyclicallyDependentClass1', cyclically_dependent_class1)
+    stub_const('CyclicallyDependentClass2', cyclically_dependent_class2)
     stub_const('BiDependentClass', bidependent_class)
     stub_const('NoDefaultTestClass', no_default_test_class)
 
     DependentClass.global_context_dependent_on TestClass
+    DependentClass.global_context_dependent_on CyclicallyDependentClass2
+    CyclicallyDependentClass1.global_context_dependent_on DependentClass
+    CyclicallyDependentClass2.global_context_dependent_on CyclicallyDependentClass1
     BiDependentClass.global_context_mutually_dependent_on TestClass
   end
 
@@ -29,6 +34,20 @@ def initialize(id: :default)
     end
   end
 
+  let(:cyclically_dependent_class1) do
+    Class.new do
+      include RailsMultitenant::GlobalContextRegistry::Current
+      provide_default { new }
+    end
+  end
+
+  let(:cyclically_dependent_class2) do
+    Class.new do
+      include RailsMultitenant::GlobalContextRegistry::Current
+      provide_default { new }
+    end
+  end
+
   let(:bidependent_class) do
     Class.new do
       include RailsMultitenant::GlobalContextRegistry::Current
@@ -73,8 +92,13 @@ def initialize(id: :default)
 
     it "clears dependencies" do
       dependent = DependentClass.current
+      cyclically_dependent1 = CyclicallyDependentClass1.current
+      cyclically_dependent2 = CyclicallyDependentClass1.current
+
       TestClass.current = TestClass.new
-      expect(dependent_class.current).not_to equal(dependent)
+      expect(DependentClass.current).not_to equal(dependent)
+      expect(CyclicallyDependentClass1.current).not_to equal(cyclically_dependent1)
+      expect(CyclicallyDependentClass2.current).not_to equal(cyclically_dependent2)
     end
 
     it "clears bidirectional dependencies" do