The most annoying thing about lending and borrowing is: you think you're still far from the liquidation line, but as soon as the market swings, it gets taken away from you. Honestly, I usually don't bet on a rebound when I'm three steps away from the red line; I first make my position "dull"—either add some margin to widen the distance or pay off part of the debt. Better to earn less than to get forcibly liquidated by the system.

On-chain, I keep an eye on the health curve. I just checked a vault's HF dropping from 1.23 to 1.11, and gas fees suddenly spiked. Eighty percent of the time, someone is rushing to adjust positions or run from liquidation... At times like this, I don't race with emotions. By the way, recently, before and after the main public chain upgrades, everyone is guessing whether projects will migrate. The more "unexpected" this window is, the more you shouldn't hold on tightly to loans; staying alive is more important than betting on a narrative. That's all for now.