Loose wire by 50a breaker

[First time Big Block]

Anyone have any thoughts on this wire? Troubleshooting some other wiring issues and it just started sparking. Got the batteries turned off and now trying to find where it goes. Boat is a 2000 226 with the 7.4gi. The wire appears to be factory and has 12v power on it . It starts without it but unsure what it may run. It runs around the front and down to the power block or starter I am guessing to get the 12v power.

Loose wire is in the 3rd pic. Other 2 are of the back of the 50a breaker.

[Big Block Power]

Does it go to the alt? If it's got 12v before the breaker then a battery or from starter. Other boys will chime in.

[First time Big Block]

Does it go to the alt? If it's got 12v before the breaker then a battery or from starter. Other boys will chime in.

I don’t believe it goes to the alt, I tried toning it, but everything with 12v power gave me tone lol. Wondering it if goes on one of the posts, just lost a nut off the back?

[Big Block Power]

Does it go to the alt? If it's got 12v before the breaker then a battery or from starter. Other boys will chime in.

I don’t believe it goes to the alt, I tried toning it, but everything with 12v power gave me tone lol. Wondering it if goes on one of the posts, just lost a nut off the back?

Yes prob. You don't need it arching behind that breaker. It could be coming from your perko maybe too.

[First time Big Block]

Maybe a better pic. Hopefully someone has theirs out and can snap a pic of theirs. My only though is that it goes to the hot post on the 50a breaker, but it already has a hot lead there?? Gotta love used boats!

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[First time Big Block]

I tied it back in with the 50a breaker for now. My best guess is that’s where it should go. Worst that happens is it pops the breaker until I find out for sure.