BTC Flow Analysis — November 20, 2023 BULL
Monday · Minute-level BTC order flow from Binance · 1,485,050 trades
Summary
Bitcoin went nowhere on Monday, November 20, 2023, closing at $37,449 as sellers controlled aggregate flow with 840 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
15 bars of outsized trades (peak 8.6σ) appeared between 00:14–15:41 UTC, with whale flow netting 33 BTC of buying.
Day 5 of unbroken net selling. The market had a directional lean and wasn't letting go.
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
Asia traders set the tone. 82% of directional flow — 732 BTC of selling — came from that single session.
Session returns: Asia -0.31%, Europe -0.41%, US +0.96%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.31% | -732 BTC | 82% |
| Europe | 08:00 - 14:00 | -0.41% | 25 BTC | 3% |
| US | 14:00 - 00:00 | 0.96% | -133 BTC | 15% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bull regime was running out of road — 2 day(s) before the market shifted to chop. The transition was already underway in hindsight.
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