ORDI 24-hour volatility reaches 41.9%: Leverage liquidations and Ordinals narrative revival drive rapid pullback

Volatility Overview

In the past 24 hours, ORDI price surged from a low of $5.141 to a high of $7.296. The current quote is $5.162, with price fluctuations reaching 41.9%. Trading volume soared to over $1 billion, and total network liquidations reached $36.6 million, mainly due to the clearing of short positions.

Brief Analysis of Abnormal Price Movements

- Derivatives trading volume spiked by 1,595%, and short liquidations exceeded $22 million to $36.6 million, driving a rebound from the low, accompanied by a resurgence of the bitcoin Ordinals/BRC-20 narrative.

- Subsequently, the price was rejected at the $7.50 resistance level. Negative divergence in momentum indicators led to a rapid retracement to the support near $5.

Market Perspectives and Outlook

The prevailing market sentiment is excitement, with the community viewing it as a BRC-20 rebound signal. However, mainstream opinion warns of high leverage risks that could trigger sharp pullbacks. Support levels are at $5.00-$4.20, resistance at $6.00, and in the short term, momentum exhaustion should be watched closely.