BTC Flow Analysis — May 20, 2023 BEAR
Saturday · Minute-level BTC order flow from Binance · 481,382 trades
Summary
May 20, 2023: Bitcoin ground out a +0.83% gain. The 895 BTC of net selling flow at $27,102 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).
Flow Analysis
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.72), but price still climbed +0.83%. The buying was passive — limit orders soaking up the supply.
Whale-sized trades (32 bars above 3σ, peak 9.3σ) pushed 175 BTC of net buying between 02:17–21:27 UTC — while price went the other way. Possible accumulation, possible pain.
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 -0.09%, Europe +0.13%, US +0.79%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.09% | -307 BTC | 34% |
| Europe | 08:00 - 14:00 | 0.13% | -293 BTC | 33% |
| US | 14:00 - 00:00 | 0.79% | -295 BTC | 33% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The selling streak extended to 3 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
Days with similar flow patterns and market conditions.
Explore this day's minute-level flow data interactively on the dashboard.
Open Dashboard