BTC Flow Analysis — July 18, 2023 BULL
Tuesday · Minute-level BTC order flow from Binance · 754,775 trades
Summary
July 18, 2023: Bitcoin gave back 0.93%. The 2,461 BTC of net selling flow at $29,859 told a clear story — sellers were in charge.
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. 15 bars with trade sizes 3σ+ above normal (peak: 4.8σ), spread across 00:18–20:09 UTC. The 132 BTC of whale flow reinforced the day's selling bias.
This was day 5 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
Price followed flow faithfully (correlation: 0.94). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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
Breaking it down by session: Asia -0.56%, Europe -0.45%, US +0.09%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.56% | -932 BTC | 38% |
| Europe | 08:00 - 14:00 | -0.45% | -819 BTC | 33% |
| US | 14:00 - 00:00 | 0.09% | -711 BTC | 29% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bull regime was running out of road — 2 day(s) before the market shifted to chop. The transition was already underway in hindsight.
Related Days
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