BTC Flow Analysis — January 18, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 7,617,173 trades
Summary
January 18, 2023: Bitcoin lost 2.2%. The 4,567 BTC of net selling flow at $20,677 told a clear story — sellers were in charge.
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
Sustained large-player selling throughout the day. 51 bars with trade sizes 3σ+ above normal (peak: 5.5σ), spread across 02:40–21:05 UTC. The 2,646 BTC of whale flow reinforced the day's selling bias.
Most of the action happened during US hours, which accounted for 81% of the day's net flow (4,054 BTC selling). The rest of the day was a footnote.
Day 4 of unbroken net selling. The market had a directional lean and wasn't letting go.
Price followed flow faithfully (correlation: 0.90). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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
Breaking it down by session: Asia +0.83%, Europe +0.45%, US -3.39%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.83% | 213 BTC | 4% |
| Europe | 08:00 - 14:00 | 0.45% | -726 BTC | 15% |
| US | 14:00 - 00:00 | -3.39% | -4054 BTC | 81% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the heaviest selling days in this bull regime. Net flow of -4,567 BTC placed this day at -2.7σ from the regime mean.
Trading activity surged to +3.6σ above the regime norm (350,916 BTC). When volume spikes like this, the flow data carries more weight.
Related Days
Days with similar flow patterns and market conditions.
Explore this day's minute-level flow data interactively on the dashboard.
Open Dashboard