Take a look, $BTC (+0 %) (here it is the chart of the perpetual future on @OKX exchange) lost about 2% (1.85%) in five minutes, only. We need to think better to our stop loss levels. These shocks are hard to absorb.
Now atr are
1H 971.97 (atr 3 periods) 521.44 (atr 14 periods)
4H 810.70 atr(3) 1074.11 atr(14) 1.35% (on last)
1D 2646.33 2839.22 3.58% (on last)
in 5 minute about 2 times the statistical variation of 4 hours timeframe. not so bad (or good, it depends).