The recent rise of Bitcoin to $25,000 may have been caused by Bitcoin Ordinals.

Coinmarketcap reported that the coin briefly exceeded the $25,000 mark at 16 February at 18:05 UTC.

Glassnode, a blockchain data company, suggests that the rise in the value of Bitcoin can also be attributed to Ordinals. They are often associated with "short squeezes." 

When everyone thinks Bitcoin will plummet, it can bounce back by hundreds or even thousands of dollars like a tightly stretched spring.

An Ordinal is a type of NFT that is used to prove that only one person owns something. It is a digital asset that stores data on the blockchain, unlike NFTs on Ethereum or Solana, which simply provide a reference to the location of the actual file.

According to Dune Analytics, the popularity of Ordinals has led to a sharp increase in the number of "miners" or creators of Bitcoin NFTs. As per Decrypt's report, more than 100,000 unique files have been created on the Bitcoin blockchain so far.