Lately, I've been watching on-chain liquidations again, and my eyes are sore, my neck is a bit stiff... To put it simply, my current market watching is more like observing the tide of miner income curves, with rhythmic ups and downs. The oracle price feeding is quite crucial: you might think the price has already hit the line, but if the price feed is a half-beat slow, the liquidation could be "late," and when the update hits and the price drops suddenly, it’s easier to wipe you out all at once; conversely, sometimes the market rebounds first, but the feed still stays at a low level, and liquidations still execute at the old price, which is quite frustrating. Recently, everyone has been talking about rate cut expectations, the US dollar index, and the mood of risk assets rising and falling together, which also makes volatility stickier, and delays become more glaring. All I can do now is be more conservative: don’t leverage close to the line, leave some buffer, and prefer to earn less... for now, that’s it.