BTC Flow Analysis — September 23, 2023 CHOP
Saturday · Minute-level BTC order flow from Binance · 421,717 trades
Summary
Bitcoin finished near unchanged (-0.02%) on Saturday, September 23, 2023, closing at $26,576 as sellers controlled aggregate flow with 666 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
33 bars of outsized trades (peak 6.9σ) appeared between 00:13–22:40 UTC, with whale flow netting 84 BTC of buying.
Net selling for 5 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
An unusually tight range: 0.47% from high to low. Compression days like this tend to resolve with a larger move in the days that follow.
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 were muted across the board: Asia +0.02%, Europe -0.04%, US +0.00%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.02% | -215 BTC | 32% |
| Europe | 08:00 - 14:00 | -0.04% | -286 BTC | 43% |
| US | 14:00 - 00:00 | 0.00% | -165 BTC | 25% |
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 -0.02% return tracked the regime average of +0.10%.
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