OKX SNDK perpetual leads 24-hour decline with 15.49% drop

Beijing time 10-31 01:27, SNDK-USDT-SWAP, ranked 5th by turnover on OKX, fell 15.49% over 24 hours to 1143.8, with a high of 1378 and a low of 1139.6; BTC fell 4.80% over the same period. A top-turnover altcoin suffered a sharp one-day selloff, order books can easily thin out, and the cost of wicks and slippage rises; the funding rate of 0.0481% is still being charged, so holding costs persist. First look at where BTC is in its cycle, then decide offense or defense; don't mistake a sharp drop for a bargain, and prioritize position sizing and stop-loss discipline.