BTC Flow Analysis — January 13, 2023 BULL
Friday · Minute-level BTC order flow from Binance · 8,021,774 trades
Summary
On Friday, January 13, 2023, Bitcoin exploded +5.7% higher to $19,930. Net flow: -1,718 BTC — sellers had the edge.
BTC price (blue) and trading volume (cyan bars) per minute. Session shading: Asia (gold 00-08 UTC), Europe (green 08-14), US (red 14-00).
Flow Analysis
Despite persistent sell-side aggression (flow-price correlation -0.38), price rose +5.75%. This divergence typically signals strong passive demand — buyers who don't need to cross the spread.
Sustained large-player selling throughout the day. 41 bars with trade sizes 3σ+ above normal (peak: 6.0σ), spread across 00:43–21:44 UTC. The 948 BTC of whale flow reinforced the day's selling bias.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
Session Breakdown
Morning and afternoon traded like two different markets. Sellers led early (-2,563 BTC), buyers dominated late (+845 BTC).
Across sessions: Asia -0.12%, Europe +0.16%, US +5.70% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.12% | -2020 BTC | 47% |
| Europe | 08:00 - 14:00 | 0.16% | -994 BTC | 23% |
| US | 14:00 - 00:00 | 5.70% | 1296 BTC | 30% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This was near the start of a bull regime (day 1), with the chop regime barely in the rearview mirror.
Volume ran hot: 368,616 BTC traded, +3.8σ above the bull-regime average. High volume days tend to carry more signal.
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