BTC Flow Analysis — January 24, 2023 BULL
Tuesday · Minute-level BTC order flow from Binance · 7,395,584 trades
Summary
On Tuesday, January 24, 2023, Bitcoin slipped 1.24% to $22,633. Net flow: -4,679 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
The big players were active all day. 18 bars of outsized trades (6.4σ peak) from 01:09–23:20 UTC, adding 1,218 BTC of selling pressure on top of the broader selling flow.
Net selling for 4 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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
Strip out US and the day would look flat. That session alone contributed 61% of the net flow (2,867 BTC selling).
Across sessions: Asia +0.59%, Europe -0.84%, US -1.00% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.59% | -214 BTC | 5% |
| Europe | 08:00 - 14:00 | -0.84% | -1598 BTC | 34% |
| US | 14:00 - 00:00 | -1.00% | -2867 BTC | 61% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
At -2.8σ from the bull-regime average, this was one of the most intense selling days in the period — 4,679 BTC of net pressure overwhelmed the typical flow pattern.
Volume ran hot: 293,159 BTC traded, +2.9σ above the bull-regime average. High volume days tend to carry more signal.
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