BTC Flow Analysis — October 11, 2023 CHOP
Wednesday · Minute-level BTC order flow from Binance · 1,336,479 trades
Summary
Bitcoin closed at $26,876 on October 11, 2023 after slipped 1.88%. Aggressor-side flow netted -2,429 BTC, favoring sellers.
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. 22 bars with trade sizes 3σ+ above normal (peak: 17.5σ), spread across 00:39–20:33 UTC. The 1,036 BTC of whale flow reinforced the day's selling bias.
Net selling for 5 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.94 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
The Asia session posted the largest move. Full breakdown: Asia -1.34%, Europe +0.45%, US -0.99%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.34% | -1204 BTC | 50% |
| Europe | 08:00 - 14:00 | 0.45% | -462 BTC | 19% |
| US | 14:00 - 00:00 | -0.99% | -763 BTC | 31% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
With -2,429 BTC of net flow (-1.6σ), selling pressure ran above the chop-regime baseline of -670 BTC.
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