BTC Flow Analysis — December 08, 2023 BULL
Friday · Minute-level BTC order flow from Binance · 1,311,268 trades
Summary
December 08, 2023: Bitcoin rallied +2.1%. The 1,263 BTC of net selling flow at $44,171 told a clear story — sellers 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
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.66), but price still climbed +2.07%. The buying was passive — limit orders soaking up the supply.
Sustained large-player selling throughout the day. 19 bars with trade sizes 3σ+ above normal (peak: 7.5σ), spread across 00:10–15:36 UTC. The 627 BTC of whale flow reinforced the day's selling bias.
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 -0.25%, Europe +0.94%, US +1.38%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.25% | -601 BTC | 43% |
| Europe | 08:00 - 14:00 | 0.94% | 72 BTC | 5% |
| US | 14:00 - 00:00 | 1.38% | -734 BTC | 52% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The selling streak extended to 3 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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