ORDI is mostly following Bitcoin\u2019s pace in the broader market. As of writing, BTC is sitting at $43.4k and rising. If Bitcoin continues to sail the bullishness, we might see ORDI follow suit.\u00a0<\/span><\/p>\nIn the context of ORDI, events such as those mentioned above will also put the spotlight on BRC-20 standard tokens which has gained momentum since last year. As of now, ORDI’s position remains attractive for investors and traders as it rides the bullish wave that Bitcoin created.<\/p>\n
If this bullishness continues, bulls will have enough momentum to settle on the 50% retracement level, which will provide a solid base to pump higher in the future. However, a more conservative bullish prediction is ORDI stabilizing above the 61.80% retracement level. If this happens, investors and traders will still experience profits with a much more stable platform for future price movements.\u00a0<\/span><\/p>\nFeatured image from Shutterstock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"At the time of writing, ORDI is experiencing a substantial increase in price after several events in the crypto world unraveled. Coingecko data reveals that ORDI is up nearly 12% in the past 24 hours. However, it remains to be seen whether this uptick in price will erase the bearishness experienced in the past few weeks.\u00a0 But right now, the crypto market, as a whole, is up a huge amount. The latest market data shows that the broader market is up nearly 3% after the bullishness brought by major coins and tokens like Bitcoin. Related Reading: MakerDAO Co-Founder Cashes Out, Sends MKR Wobbling After $4.5 Million Sell Stiff Competition In The Bitcoin ETF Space After 11 Bitcoin spot exchange-traded funds were approved by the Securities and Exchange Commission earlier this month, the competition surrounding the Bitcoin ETF space grew this month. According to recent news, Fidelity\u2019s Bitcoin ETF has outpaced Grayscale\u2019s GBTC in inflows. JP Morgan also said that the outflows from GBTC were directed to its newer competitors with lower fees.\u00a0 \u201cGBTC profit taking has largely happened already\u2026This would imply that most of the downward pressure on Bitcoin from that channel should be largely behind us,\u201d said JPMorgan analysts led by Managing Director Nikolaos Panigirtzoglou in a recent statement.\u00a0 ORDIUSD currently trading at $61.5808 on the daily chart: TradingView.com The financial institution also points to Blackrock and Fidelity\u2019s individual Bitcoin ETFs to dominate the market in the long term. However, Grayscale\u2019s CEO Michael Sonnenshein believes that the majority of the recently approved ETFs won\u2019t survive in the long term. He also defended the higher feeds imposed by Grayscale compared to its competitors. \u201cInvestors are weighing heavily things like liquidity and track record and who the actual issuer is behind the product. Grayscale is a crypto specialist. And it has really paved the way for a lot of these products coming through,\u201d said Sonnenshein in a recent interview with CNBC.\u00a0 Related Reading: Solana Breakout Looms \u2013 Will SOL Retake $100 Before Start Of February? ORDI: Higher High In The Near Future ORDI is mostly following Bitcoin\u2019s pace in the broader market. As of writing, BTC is sitting at $43.4k and rising. If Bitcoin continues to sail the bullishness, we might see ORDI follow suit.\u00a0 In the context of ORDI, events such as those mentioned above will also put the spotlight on BRC-20 standard tokens which has gained momentum since last year. As of now, ORDI’s position remains attractive for investors and traders as it rides the bullish wave that Bitcoin created. If this bullishness continues, bulls will have enough momentum to settle on the 50% retracement level, which will provide a solid base to pump higher in the future. However, a more conservative bullish prediction is ORDI stabilizing above the 61.80% retracement level. If this happens, investors and traders will still experience profits with a much more stable platform for future price movements.\u00a0 Featured image from Shutterstock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":572264,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1944,88269,87919,10709,3799],"class_list":["post-572254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-etf","tag-ordi","tag-ordinals","tag-price-prediction","tag-sec"],"acf":[],"yoast_head":"\n
ORDI: Extraordinary Price Movement Excites Investors - Here's Why<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n