Recently, I've seen people say, "I clearly have enough margin, why am I still being liquidated?" My first reaction isn't to blame the exchange or the blockchain, but to check whether the oracle price feed has been delayed. Simply put, liquidation is based on "what it perceives as the price," not the K-line you see in your mind; if the price feed is slow by a few minutes, during extreme volatility, there can be a period where the price deviates, and the liquidation bot will still follow the rules and liquidate you. By the time you realize it, the process is already complete... This isn't fate; it's a probabilistic event: the larger the volatility, the more leveraged your position, and the slower the oracle updates, the higher the chance you'll be liquidated. Recently, with macroeconomic expectations of rate cuts and the US dollar index fluctuating wildly along with risk assets, the biggest fear is this kind of "simultaneous rise and fall + instant retracement." Anyway, I now prefer to open less leverage and keep my health margin away from the red line, so I can sleep more peacefully.