BTC Flow Analysis — February 16, 2023 BULL
Thursday · Minute-level BTC order flow from Binance · 11,006,793 trades
Summary
February 16, 2023: Bitcoin lost 3.3%. The 1,287 BTC of net selling flow at $23,518 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. 15 bars with trade sizes 3σ+ above normal (peak: 5.3σ), spread across 00:16–22:33 UTC. The 92 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
Breaking it down by session: Asia +1.19%, Europe -0.67%, US -3.80%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.19% | 370 BTC | 18% |
| Europe | 08:00 - 14:00 | -0.67% | -975 BTC | 48% |
| US | 14:00 - 00:00 | -3.80% | -682 BTC | 34% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 2 of a fresh bull regime. The market had just flipped from chop, and the new character was still establishing itself.
Trading activity surged to +4.8σ above the regime norm (450,081 BTC). When volume spikes like this, the flow data carries more weight.
Related Days
Days with similar flow patterns and market conditions.
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