BTC Flow Analysis — February 15, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 8,335,550 trades
Summary
Bitcoin closed at $24,324 on February 15, 2023 after ripped 9.6% to the upside. Aggressor-side flow netted +5,927 BTC, favoring buyers.
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
19 bars of outsized trades (peak 4.2σ) appeared between 01:30–14:54 UTC, with whale flow netting 501 BTC of selling.
The 10.5% intraday range ($22,047 – $24,380) tells the story of a market in flux. Both sides had their moments.
Price followed flow faithfully (correlation: 0.95). 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
The US session drove 79% of the day's directional flow, with 6,020 BTC of net buying. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia -0.41%, Europe +2.66%, US +7.16%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.41% | -835 BTC | 11% |
| Europe | 08:00 - 14:00 | 2.66% | 742 BTC | 10% |
| US | 14:00 - 00:00 | 7.16% | 6020 BTC | 79% |
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 buying days in this bull regime. Net flow of +5,927 BTC placed this day at +3.5σ from the regime mean.
A statistical outlier: +9.57% return sits at +3.3σ from the bull-regime average of +0.34%. Days like this are rare within this regime.
The market was 1 day(s) into a new bull regime, having transitioned from chop. Early-regime days often carry residual momentum from the prior period.
Volume ran hot: 375,669 BTC traded, +3.9σ above the bull-regime average. High volume days tend to carry more signal.
Related Days
Days with similar flow patterns and market conditions.
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