BTC Flow Analysis — July 24, 2023 CHOP
Monday · Minute-level BTC order flow from Binance · 869,107 trades
Summary
July 24, 2023: Bitcoin fell 3.0%. The 3,534 BTC of net selling flow at $29,176 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. 21 bars with trade sizes 3σ+ above normal (peak: 8.2σ), spread across 01:08–16:02 UTC. The 302 BTC of whale flow reinforced the day's selling bias.
A clean, flow-driven day. The 0.96 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
Breaking it down by session: Asia -0.85%, Europe -2.17%, US -0.01%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.85% | -738 BTC | 21% |
| Europe | 08:00 - 14:00 | -2.17% | -1751 BTC | 50% |
| US | 14:00 - 00:00 | -0.01% | -1044 BTC | 30% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Flow conviction was unusually strong: 3,534 BTC net selling, registering at -2.3σ relative to other chop-regime days. This wasn't noise — it was a directional statement.
The selling streak extended to 11 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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