I watched the liquidation for a while today, my mind is a bit foggy but still holding on. To put it simply, once the oracle feed price is half a beat slow, the "far from liquidation line" you see might just be an illusion: the price drops elsewhere first, and on-chain it hasn't caught up yet. When it updates, it’s like a finishing blow, and the position can be wiped out in one go, even before protective orders can trigger.

What’s more annoying is that some on-chain data tools/tags have recently been criticized for lagging or even misleading. At this point, if you rely on "the panel shows it's safe" to boost your confidence, it’s a bit like watching a delayed live stream for short-term trading... Anyway, I now trust my own buffer more: keep leverage low, leave some margin, and don’t treat the liquidation price as the only red line. That’s it for now, time for a sip of tea.