ORDI fluctuates 84.5% in 24 hours: Bitcoin Ordinals inscriptions surpass 90 million and BRC-20 boom drives surge followed by correction

Volatility Overview

In the past 24 hours, ORDI price surged from a low of $5.818 to a high of $10.734, an amplitude of 84.5%. The current quote is $6.301, indicating strong volatility. Trading volume soared to over $1.2 billion, up more than 700% from the previous day, with total contract liquidations reaching $36.6 million (mainly short positions).

Brief Analysis of the Reasons for Abnormal Movements

- Milestone in the Bitcoin Ordinals ecosystem: The total number of inscriptions surpassed 90 million, with the average inscription fee rising from 50 sats to over 200 sats. Major mining pools are offering inscription optimization services, enhancing the ecosystem's legitimacy.

- Broad BRC-20 sector rebound: Several leading exchanges (at least three) announced support for BRC-20 deposits and withdrawals in April, reducing trading friction. ORDI, as the first BRC-20 token, led the rally with over 90% gains.

- Derivative-driven: Futures trading volume surged to $1.63 billion (+227%), open interest increased, and short liquidations exceeded $1.2 million, prompting spot market buy orders.

Market Views and Outlook

Market sentiment is predominantly excited. The community sees the Ordinals/BRC-20 narrative revival as a key turning point, with discussions on X focusing on “doubling opportunities” and “short covering.” Analysts caution about excessive leverage (trading volume/market cap ratio exceeds 7x), with short-term support at $5–6, resistance at $9–10, and warn of the risk of sudden drops.