BTC Flow Analysis — June 25, 2023 BULL
Sunday · Minute-level BTC order flow from Binance · 789,910 trades
Summary
On Sunday, June 25, 2023, Bitcoin went nowhere to $30,463. Net flow: -967 BTC — sellers had the edge.
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
The big players were active all day. 16 bars of outsized trades (7.8σ peak) from 00:19–19:49 UTC, adding 80 BTC of selling pressure on top of the broader selling flow.
Net selling for 4 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.88 correlation between cumulative flow and price means selling 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
Strip out US and the day would look flat. That session alone contributed 72% of the net flow (1,007 BTC selling).
Morning and afternoon traded like two different markets. Buyers led early (+192 BTC), sellers dominated late (-1,160 BTC).
Across sessions: Asia +0.64%, Europe -0.15%, US -0.70% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.64% | 215 BTC | 15% |
| Europe | 08:00 - 14:00 | -0.15% | -175 BTC | 13% |
| US | 14:00 - 00:00 | -0.70% | -1007 BTC | 72% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a bull-regime day. The -0.21% return was consistent with the period's average of +0.34%.
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