Venu Sq weird batter drain

This is actually a question about the first Venu Sq, not the Venu Sq 2, but since the Venu Sq forum has been archived, I'll ask here.

I have the Venu Sq (non-music). Recently the watch started showing an extreme battery drain. The issue appeared suddenly a couple of weeks ago, i.e. one day the battery drain was normal (6-8 days between charges), and the next day it became excessive (barely more than 24 hours between charges). Normally I would suspect that the battery is dying, but during GPS activities (cycling, running) the battery drain seems quite normal, i.e. I get up to 20 hours of GPS activity out of one battery charge. So it looks like the battery is fine despite its age, and extreme battery drain is observable only in non-activity mode. Additional information:

  • I did not change any settings recently.
  • HR sensor is on auto, SPO2 is off.
  • I do not use any IQ apps.

What I tried so far (unsuccessfuly):

  • Rebooting the watch.
  • Resetting it to factory defaults.
  • Connecting and syncing to Garmin Express.

So only two possibilities come to my mind: Either the watch has developed a very peculiar hardware malfunction, which causes extreme battery drain in non-activity mode or there's been a recent Garmin Connect app update, which changed something in the way the watch communicates with the phone over bluetooth, and as a result causes increased battery drain. But in the latter case there would be more users who experience the issue.

Are there any users of the original Venu Sq who would have other ideas?