BTC Flow Analysis — June 19, 2023 CHOP
Monday · Minute-level BTC order flow from Binance · 732,735 trades
Summary
Bitcoin closed at $26,844 on June 19, 2023 after ground out a 1.91% gain. Aggressor-side flow netted -686 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
Aggressor-side sellers pushed flow negative throughout the day (flow-price correlation: -0.31), yet price finished up +1.91%. Passive buyers on the bid absorbed the selling without showing up in aggressor-side data.
Large players were on the wrong side — or the patient side. 18 bars of outsized trade sizes (peak 7.0σ) showed net buying, but price moved against them. Either they were accumulating into weakness or got caught.
Net selling for 13 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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 posted the largest move. Full breakdown: Asia +0.33%, Europe +0.41%, US +1.17%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.33% | -342 BTC | 35% |
| Europe | 08:00 - 14:00 | 0.41% | -488 BTC | 50% |
| US | 14:00 - 00:00 | 1.17% | 144 BTC | 15% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 1 of a fresh chop regime. The market had just flipped from bear, and the new character was still establishing itself.
Related Days
Days with similar flow patterns and market conditions.
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