Understanding Liquidations and Gains/Losses

I’m a bit confused on how getting liquidated nets a small loss compared to cost to buy.

The post https://www.cointracker.io/blog/margin makes sense, but I don’t understand how loosing 0.68 BTC through a liquidation only nets a $425 loss.

I purchased around 0.63 BTC for about $11000 within same month as liquidation. Within the month, BTC didn’t double or triple, so wouldn’t the liquidation net a loss closer to $11K not $425?

LIFO and universal accounting are being used.

Thank you.