BTC Flow Analysis — April 20, 2023 CHOP
Thursday · Minute-level BTC order flow from Binance · 1,434,642 trades
Summary
Bitcoin closed at $28,244 on April 20, 2023 after gave back 1.92%. Aggressor-side flow netted -3,040 BTC, favoring sellers.
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. 33 bars of outsized trades (8.2σ peak) from 01:26–23:52 UTC, adding 426 BTC of selling pressure on top of the broader selling flow.
Price followed flow faithfully (correlation: 0.95). 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 US session drove 62% of the day's directional flow, with 1,893 BTC of net selling. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia +0.25%, Europe -0.17%, US -2.00%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.25% | -396 BTC | 13% |
| Europe | 08:00 - 14:00 | -0.17% | -751 BTC | 25% |
| US | 14:00 - 00:00 | -2.00% | -1893 BTC | 62% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Net selling hit 3,040 BTC, landing -2.0σ outside the chop-regime norm. Days with this level of one-sided flow have historically marked inflection points within the regime.
Related Days
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