BTC Flow Analysis — May 23, 2023 BEAR
Tuesday · Minute-level BTC order flow from Binance · 816,399 trades
Summary
Bitcoin closed at $27,220 on May 23, 2023 after ground out a 1.38% gain. Aggressor-side flow netted -768 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
Large-player activity detected: 12 bars with trade sizes 3σ+ above normal (peak: 4.9σ) between 00:33–20:43 UTC. Whale flow netted 253 BTC of buying.
The day split in half. Buyers controlled the first 12 hours (+513 BTC), then sellers took over (-1,281 BTC). The reversal changed the character of the day.
This was day 6 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
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 Asia session posted the largest move. Full breakdown: Asia +1.70%, Europe -0.25%, US -0.06%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.70% | 842 BTC | 34% |
| Europe | 08:00 - 14:00 | -0.25% | -681 BTC | 28% |
| US | 14:00 - 00:00 | -0.06% | -930 BTC | 38% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the bear regime was ending. CHOP conditions were 1 day(s) away.
Related Days
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