BTC Flow Analysis — September 18, 2023 CHOP
Monday · Minute-level BTC order flow from Binance · 938,705 trades
Summary
Bitcoin ticked up +0.89% on Monday, September 18, 2023, closing at $26,763 as buyers controlled aggregate flow with 103 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
25 bars of outsized trades (peak 9.2σ) appeared between 00:28–18:57 UTC, with whale flow netting 537 BTC of selling.
Flow reversed midday. The first 12 hours belonged to buyers (+633 BTC), but sellers erased that and then some (-530 BTC) in the back half.
Price followed flow faithfully (correlation: 0.95). 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
Session returns: Asia +0.69%, Europe +2.04%, US -1.81%. Europe led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.69% | -6 BTC | 0% |
| Europe | 08:00 - 14:00 | 2.04% | 935 BTC | 53% |
| US | 14:00 - 00:00 | -1.81% | -826 BTC | 47% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This day sat within a chop regime. The +0.89% return tracked the regime average of +0.10%.
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