Just took a look at on-chain fund flows and it feels like some protocols have liquidation thresholds that are pretty tight. What I fear most, though, is oracle price feed lag—especially during periods of high volatility, when new L1/L2s are aggressively rolling out incentives—because once the price feed stalls, you think you’re still in the safe zone, but the liquidation line was already breached early, and the account gets hammered straight into the ground. Old users are all complaining about “mining, withdrawing, and selling”; honestly, in this kind of market, price-feed lag is more deadly than any ecosystem narrative that KOLs hype. The chance of reversal is always there, but don’t pin the outcome on “fate”—add more buffer instead, and use less leverage. That’s probably always right. That’s it for now—I’ve poured the cold water, and I’m going to keep watching the charts.