Why did Ethereum drop 1.2% on October 24, 2026?
On October 24, 2026 (UTC), ETH went from about $2,387.69 to $2,358.61 (-1.22%) on OKX · USDT, trading between $2,282.85 and $2,390.48. For the closed-hour 24h window: ETH largely moved with the market. ETH fell further than this on 6 of the past 29 days. Ethereum moved down broadly in line with Bitcoin and most other tracked coins, a move within its usual daily range. No recent report about the coin explains it, so the cause is unresolved. Perpetual swap conditions on OKX showed funding near zero with rising open interest.
Still open
- What drove the market-wide move, and whether an official statement, exchange notice or on-chain data would identify a catalyst
- Whether the rise in open interest on the OKX ETH-USDT perpetual swap reflects new positioning, which exchange or on-chain positioning data would settle
- Day open / close
- $2,387.69 → $2,358.6124 hourly candles, OKX · USDT
- Day range
- $2,282.85 – $2,390.484.7% from low to high
- Versus Bitcoin
- -1.22% / BTC -0.38%-0.8 pts left after BTC × its hourly beta 1.22
- Versus the past month
- 6 of the past 29 days fell furtherClosed-hour 24h move -1.22%, 1.3× its prior 30-day median of 0.9%.
- 30-day range
- 15.1% below the high · 3.3% above the lowFrom hourly highs and lows on the same venue
- Other tracked coins
- 17 of 23 moved the same way2 moved the other way
- 24h volume
- 0.8×of its prior 30-day daily average
- Perpetual swap
- funding near zero · open interest risingOKX perpetual swap ETH-USDT-SWAP
Computed from OKX · USDT hourly candles for the 24 hours to 25/10/2026, 00:00 UTC.
Written by a model from the reading above; no report about this coin was available to cite, at 25/10/2026, 00:43 UTC.
Prices, market readings and reports are shown side by side; timing alone does not show what caused a move. Methods →