BTC Flow Analysis — October 23, 2023 BULL
Monday · Minute-level BTC order flow from Binance · 2,839,938 trades
Summary
October 23, 2023: Bitcoin ripped +10.3% to the upside. The 2,165 BTC of net buying flow at $33,070 told a clear story — buyers 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
22 bars of outsized trades (peak 14.0σ) appeared between 00:39–23:20 UTC, with whale flow netting 239 BTC of selling.
Most of the action happened during US hours, which accounted for 67% of the day's net flow (2,328 BTC buying). The rest of the day was a footnote.
The 16.2% intraday range ($29,884 – $34,742) tells the story of a market in flux. Both sides had their moments.
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 +1.75%, Europe +0.30%, US +8.04%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.75% | 500 BTC | 14% |
| Europe | 08:00 - 14:00 | 0.30% | -664 BTC | 19% |
| US | 14:00 - 00:00 | 8.04% | 2328 BTC | 67% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A statistical outlier: +10.26% return sits at +3.6σ from the bull-regime average of +0.34%. Days like this are rare within this regime.
The market was 3 day(s) into a new bull regime, having transitioned from chop. Early-regime days often carry residual momentum from the prior period.
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