We have seen a sudden uptrend on $ORCA in the past 2 days. The surge is primarily derivative market-driven and sentiment or structure focused
- A significant short squeeze;around $1.83M shorts were liquidated including ~ $454k in a single hour. This fuelled the sharp uptrend
- Heavy volume from South Korean exchanges; Much of $ORCA 's trading is concentrated on South Korean exchanges and since over 75% of the global volume is against KRW pairs, the local market sentiment and activities heavily influence the price movement.
So this surge doesn't correspond to any official announcement or fundamental update, it's purely the backing of the South Koreans. This is the power of community support in crypto.
The price behaviour can reverse or pause quickly once the squeeze pressure eases so DYOR before jumping into it.
Always remember that this is not financial advice DYOR every single time