--- title: "Why did LINK drop 0.75% in 1 minute? Evidence check: Chainlink falls in a one-minute move as most tracked coins also decline · 2026-10-23" description: "LINK -0.75% in 1 minute on Gate · USDT, Oct 23 UTC: moved with the market. Chainlink dropped in a sharp one-minute move on Gate's LINK/USDT market while most other tracked coins also fell and none moved the opposite way, according to the market data. On the OKX perpetual swap, funding was near zero…" language: en canonical: "https://whycoinmoves.com/en/events/chainlink-move-1792795980" published: 2026-10-23T22:54:00.000Z updated: 2026-10-24T22:56:02.000Z indexable: true --- # Why did LINK drop 0.75% in 1 minute? Evidence check: Chainlink falls in a one-minute move as most tracked coins also decline · 2026-10-23 LINK -0.75% in 1 minute on Gate · USDT, Oct 23 UTC: moved with the market. Chainlink dropped in a sharp one-minute move on Gate's LINK/USDT market while most other tracked coins also fell and none moved the opposite way, according to the market data. On the OKX perpetual swap, funding was near zero… Nearby report sources (context, not confirmed causes): No matching source available ## Key facts LINK changed -0.75% in 1 minute (23/10/2026, 22:52 to 23/10/2026, 22:53, UTC; Gate · USDT). The cause remains unresolved. On the OKX perpetual swap LINK-USDT-SWAP around the alert: funding rate -0.0013% per 8h period; liquidations $76,289 long / $0 short (UTC). These are conditions that accompanied the move, not its cause. After site detection, observed returns were 5 minutes: +0.32% (difference from BTC +0.16 pp; 23/10/2026, 22:54 → 23/10/2026, 22:59, UTC; Gate · USDT); 1 hour: +1.52% (difference from BTC +0.91 pp; 23/10/2026, 22:54 → 23/10/2026, 23:54, UTC; Gate · USDT); 24 hours: -0.78% (difference from BTC -0.63 pp; 23/10/2026, 22:54 → 24/10/2026, 22:54, UTC; Gate · USDT). Unlisted windows are unavailable. ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | +0.32% | +0.16% | +0.16 pp | 23/10/2026, 22:54 → 23/10/2026, 22:59 | Gate · USDT | | 1 hour | +1.52% | +0.60% | +0.91 pp | 23/10/2026, 22:54 → 23/10/2026, 23:54 | Gate · USDT | | 24 hours | -0.78% | -0.15% | -0.63 pp | 23/10/2026, 22:54 → 24/10/2026, 22:54 | Gate · USDT | ## Detected price interval | Metric | Value | | --- | --- | | Window | 1 min | | Sampled prices | 11.711 → 11.623 | | Return / BTC difference | -0.75% / -0.54 pp | | OKX perpetual funding rate (per period) | -0.0013% / 8h · OKX · LINK-USDT-SWAP · sampled 23/10/2026, 22:54 (UTC) · Rate observed at collection; not annualized yield or a realized settlement. | | Observed long liquidations | $76,289 · OKX · LINK-USDT-SWAP · sampled 23/10/2026, 22:54 (UTC) · 23/10/2026, 22:52 → 23/10/2026, 22:54 (UTC) · Returned API records cover this sampled interval; not market-wide totals. | | Observed short liquidations | $0 · OKX · LINK-USDT-SWAP · sampled 23/10/2026, 22:54 (UTC) · 23/10/2026, 22:52 → 23/10/2026, 22:54 (UTC) · Returned API records cover this sampled interval; not market-wide totals. | | Detection threshold | 0.7% | | Source | Gate · USDT | [Research: announcement timing and causality]() ## Historical hourly baseline | Metric | Value | | --- | --- | | Ready | false | | Coverage | 0.0% (0/720) | | Median absolute hourly return | — | | 99th percentile of absolute hourly returns | — | | BTC beta | — | | Source / cutoff (UTC) | Gate · USDT / 23/10/2026, 22:53 | ## Claims and open questions - What would explain the move, such as an exchange listing or notice, a Chainlink project announcement, on-chain flows or broader market news? ## Source evidence ## Recent LINK events and market reactions No other publication-ready LINK events yet. - [Full coin archive]() ## Recent Market watch events on other coins - [QTC: Why did QTC go up 2.86% in 1 minute? Evidence check: Quantus rises sharply in one-minute move · 2026-10-25]() - [IRYS: Why did IRYS go up 18.62% in 60 minutes? Evidence check · 2026-10-25]() - [QTC: Why did QTC drop 6.16% in 1 minute? Evidence check: Quantus falls sharply in one-minute move as other tracked coins stay flat · 2026-10-25]() - [Market watch]() ## Research for this archive - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Do XRP and Solana ETF flows move the price? First-year data]() - [Crypto liquidity and order book depth: a historical data audit]() [Methods and limitations]() Publisher count is not independent evidence count. Price changes cannot verify news or prove causation.