Friday · Minute-level BTC order flow from Binance · 655,634 trades
April 07, 2023: Bitcoin drifted lower (-0.45%). The 796 BTC of net selling flow at $27,906 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).
32 bars of outsized trades (peak 9.1σ) appeared between 00:24–23:06 UTC, with whale flow netting 146 BTC of buying.
Flow and price moved in lockstep (correlation: 0.83). Aggressor-side selling translated directly into price movement with minimal resistance.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
A tale of two halves — sellers pushed 829 BTC through the morning, then buyers flipped the script with 33 BTC in the afternoon.
Breaking it down by session: Asia -0.69%, Europe +0.21%, US +0.03%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.69% | -427 BTC | 54% |
| Europe | 08:00 - 14:00 | 0.21% | -213 BTC | 27% |
| US | 14:00 - 00:00 | 0.03% | -156 BTC | 20% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Market conditions were bull — and this day didn't deviate. A -0.45% return against a regime average of +0.34%.
Days with similar flow patterns and market conditions.
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