BTC Flow Analysis — February 20, 2023 BULL
Monday · Minute-level BTC order flow from Binance · 9,808,728 trades
Summary
Bitcoin closed at $24,842 on February 20, 2023 after pushed 2.3% higher. Aggressor-side flow netted +1,968 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
The big players were active all day. 11 bars of outsized trades (3.6σ peak) from 02:16–16:04 UTC, adding 703 BTC of buying pressure on top of the broader buying flow.
The day split in half. Buyers controlled the first 12 hours (+2,172 BTC), then sellers took over (-204 BTC). The reversal changed the character of the day.
Price followed flow faithfully (correlation: 0.94). 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 Europe session drove 83% of the day's directional flow, with 1,674 BTC of net buying. The other two sessions were comparatively quiet.
The Europe session posted the largest move. Full breakdown: Asia +0.95%, Europe +1.43%, US -0.05%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.95% | -21 BTC | 1% |
| Europe | 08:00 - 14:00 | 1.43% | 1674 BTC | 83% |
| US | 14:00 - 00:00 | -0.05% | 314 BTC | 16% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Volume ran hot: 346,939 BTC traded, +3.5σ above the bull-regime average. High volume days tend to carry more signal.
Related Days
Days with similar flow patterns and market conditions.
Explore this day's minute-level flow data interactively on the dashboard.
Open Dashboard