BTC drops 5.11% in 24 hours as open interest rises 6.67% against the trend

BTC-USDT-SWAP fell 5.11% cumulatively from 00:00 on 10-30 to 00:00 on 10-31 Beijing time, closing from 81744.2 to 77570.1, with an intraday low of 76472, a sustained one-way decline rather than a sharp drop within a single hour. Over the same period, perpetual contract open interest across the market rose 6.67% in 24 hours and 2.88% in 1 hour; price weakening while open interest climbs suggests growing divergence, with elevated risk of subsequent volatility and wick spikes. The funding rate is 0.0100%, settled every 8 hours, with the next settlement at 08:00 on 10-31; holding costs should be factored in. In one-way moves, chasing rallies and selling into dips is the costliest approach; assess the cycle and position before discussing entries, and put position sizing and stop-loss discipline first—if it is unclear, stay out.