BTC Flow Analysis — June 21, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 1,872,873 trades
Summary
Bitcoin exploded +6.0% higher on Wednesday, June 21, 2023, closing at $29,994 as buyers controlled aggregate flow with 2,768 BTC of net pressure.
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
11 bars of outsized trades (peak 7.5σ) appeared between 01:53–12:29 UTC, with whale flow netting 116 BTC of selling.
From $28,258 to $30,800 — a 9.0% range that forced both bulls and bears to respect the volatility.
A clean, flow-driven day. The 0.96 correlation between cumulative flow and price means buying pressure was the dominant force — no hidden passive flow muddying the signal.
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
Session returns: Asia +1.99%, Europe +1.52%, US +2.33%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.99% | 1378 BTC | 43% |
| Europe | 08:00 - 14:00 | 1.52% | -209 BTC | 7% |
| US | 14:00 - 00:00 | 2.33% | 1598 BTC | 50% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A statistical outlier: +5.96% return sits at +2.0σ from the bull-regime average of +0.34%. Days like this are rare within this regime.
This was near the start of a bull regime (day 1), with the chop regime barely in the rearview mirror.
With +2,768 BTC of net flow (+1.6σ), buying pressure ran above the bull-regime baseline of -386 BTC.
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