BTC Flow Analysis — June 04, 2023 CHOP
Sunday · Minute-level BTC order flow from Binance · 504,474 trades
Summary
Bitcoin closed at $27,115 on June 04, 2023 after traded flat. Aggressor-side flow netted -235 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
Sustained large-player selling throughout the day. 18 bars with trade sizes 3σ+ above normal (peak: 7.8σ), spread across 01:31–22:11 UTC. The 168 BTC of whale flow reinforced the day's selling bias.
The day split in half. Sellers controlled the first 12 hours (-335 BTC), then buyers took over (+100 BTC). The reversal changed the character of the day.
Day 7 of unbroken net selling. The market had a directional lean and wasn't letting go.
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 drove 69% of the day's directional flow, with 242 BTC of net selling. The other two sessions were comparatively quiet.
All three sessions posted small moves: Asia +0.30%, Europe +0.35%, US -0.48% — a balanced day with no clear regional driver.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.30% | -242 BTC | 69% |
| Europe | 08:00 - 14:00 | 0.35% | 57 BTC | 16% |
| US | 14:00 - 00:00 | -0.48% | -50 BTC | 14% |
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 chop regime was ending. BEAR conditions were 0 day(s) away.
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