BTC Flow Analysis — February 24, 2023 BULL
Friday · Minute-level BTC order flow from Binance · 11,531,424 trades
Summary
Bitcoin lost 3.2% on Friday, February 24, 2023, closing at $23,185 as sellers controlled aggregate flow with 3,056 BTC of net pressure.
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. 20 bars with trade sizes 3σ+ above normal (peak: 5.8σ), spread across 04:21–19:36 UTC. The 2,470 BTC of whale flow reinforced the day's selling bias.
This was day 4 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
Price followed flow faithfully (correlation: 0.99). 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
US traders set the tone. 87% of directional flow — 2,653 BTC of selling — came from that single session.
Session returns: Asia -0.46%, Europe -0.21%, US -2.51%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.46% | -206 BTC | 7% |
| Europe | 08:00 - 14:00 | -0.21% | -197 BTC | 6% |
| US | 14:00 - 00:00 | -2.51% | -2653 BTC | 87% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A -1.8σ day — selling pressure exceeded the typical bull-regime flow (-386 BTC) by a notable margin.
Trading activity surged to +3.5σ above the regime norm (343,583 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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