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It is the antenna wire, it runs from the CB radio to the top of the wheel arch behind the drivers side back seat, there it connects to the splitter which is a little silver box, your car was probably a CB radio model that had an automatic antenna, the splitter is where your CB radio and your car radio antenna meet, coming together in to a single coax wire that runs to your power antena. I'd guess that you oce had a CB af that wire is a remat of that system.
Just pull that sound deadening insulation back a little in picture two, where the orange wire dissapears and you should find a little silver box if Im right. Id so, the wire is obsolete and can be removed (unless you still have the CB radio). Cheers, Dennis.