Funny enough, I taught it was a loop too, cause last life he was in love with her and confessed first, so I was like maybe she and him are looping love and the 1st timeline he liked her and she died and he went back in time and confessed and was trying to save her but then he died and she went back and now she's trying to save him and its almost causing an endless loop of them trying to save the other and not remembering, but you went into detail with Miguel there, I love that, this is an amazing theory that I 100% approve of (๑•ㅂ•)و✧

First, there’s the “love at first sight” timeline, where vincent says it was love at first sight with oriana. But that version of vincent may actually be reincarnated from a life where oriana was the one actively pursuing him and confessing her love countless times. Meanwhile, in another timeline, oriana remembers a life where vincent told her it was love at first sight. Because their memories come from different lives, their feelings end up reinforcing each other and creating a loop. Then there’s another timeline where oriana reincarnates again, but this time vincent doesn’t know her. It feels like these timelines keep looping between the two of them.
The very first timeline, though, might involve miguel trying to separate them. My guess is that he’s actually the second lead in the story. Miguel might also be the mystery person. He could be the one who keeps reincarnating through every timeline and remembers everything. In his first life, he may have resented vincent, and his personality was probably very different back then maybe even similar to his father’s.
That might explain why, in the current timeline, miguel seems so tired and detached. He has already tried to separate them before, but it never works not even in the present timeline. Reincarnating might have been miguel’s first attempt to change fate, but he eventually realized that looping through timelines is basically playing with fate itself. So he tried to go back to how things were supposed to be by accepting his father’s request to pursue yana. But he seems numb, because he isn’t truly happy.
Sometimes he might even hate himself for liking oriana, wondering why he feels that way. He could be carrying guilt from his first life through every loop. In the current timeline, he stays by oriana’s side even if its from a distance. In the recent chapter, when he asks if oriana is truly happy, it feels like that might be the closure he needed.
Another hint might be what the professor said earlier about using magic that students dont know yet. In the latest chapter, miguel used advanced magic to stop the rain from hitting them when he sent oriana off to the east wing.