BTC Flow Analysis — March 23, 2023 BULL
Thursday · Minute-level BTC order flow from Binance · 2,159,091 trades
Summary
March 23, 2023: Bitcoin pushed +3.8% higher. The 1,694 BTC of net buying flow at $28,295 told a clear story — buyers 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
The big players were active all day. 24 bars of outsized trades (6.6σ peak) from 00:32–23:26 UTC, adding 126 BTC of buying pressure on top of the broader buying flow.
Price followed flow faithfully (correlation: 0.97). 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
Breaking it down by session: Asia +1.40%, Europe -0.95%, US +3.38%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.40% | 670 BTC | 20% |
| Europe | 08:00 - 14:00 | -0.95% | -870 BTC | 25% |
| US | 14:00 - 00:00 | 3.38% | 1895 BTC | 55% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 1 of a fresh bull regime. The market had just flipped from bear, and the new character was still establishing itself.
Related Days
Days with similar flow patterns and market conditions.
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