72 Chevy Cheyenne K10 wiring

[68Bowtie4x4]

I was working on my 72 72 Chevy Cheyenne K10 last night and I noticed that there's a huge pink wire coming from the firewall and it was just hanging down bundled up behind the distributor area. It looks to be the same gauge of wire as the Purple exciter wire that goes to the starter solenoid.

Is this pink wire the same wire that comes from the ignition key switch? It has a female black factory terminal on the end of the wire, but I don't know where it's supposed to go.

Thanks for any help you can provide.