BTC Flow Analysis — September 27, 2023 CHOP
Wednesday · Minute-level BTC order flow from Binance · 939,690 trades
Summary
On Wednesday, September 27, 2023, Bitcoin ground out a +0.58% gain to $26,373. Net flow: -1,144 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
34 bars of outsized trades (peak 6.2σ) appeared between 00:34–16:52 UTC, with whale flow netting 27 BTC of buying.
This was day 9 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
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
Morning and afternoon traded like two different markets. Buyers led early (+30 BTC), sellers dominated late (-1,174 BTC).
Across sessions: Asia +0.09%, Europe +1.43%, US -0.93% — with Europe doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.09% | -399 BTC | 35% |
| Europe | 08:00 - 14:00 | 1.43% | -233 BTC | 20% |
| US | 14:00 - 00:00 | -0.93% | -512 BTC | 45% |
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 +0.58% return tracked the regime average of +0.10%.
Related Days
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