BTC Flow Analysis — December 11, 2023 BULL
Monday · Minute-level BTC order flow from Binance · 2,087,142 trades
Summary
December 11, 2023: Bitcoin dropped 5.8% in a sharp selloff. The 3,665 BTC of net selling flow at $41,253 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
The big players were active all day. 16 bars of outsized trades (8.2σ peak) from 00:21–20:55 UTC, adding 306 BTC of selling pressure on top of the broader selling flow.
Net selling for 6 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A volatile day: 8.2% range from $40,222 to $43,804. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.97). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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 -3.78%, Europe -0.31%, US -1.79%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -3.78% | -1410 BTC | 38% |
| Europe | 08:00 - 14:00 | -0.31% | -1042 BTC | 28% |
| US | 14:00 - 00:00 | -1.79% | -1214 BTC | 33% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The 3,665 BTC of net selling was extreme by any measure (-2.2σ vs bull-regime average). The market's typical flow balance broke down.
Even by bull-regime standards, -5.79% was extreme — -2.2σ from the +0.34% average. This wasn't a normal bull day.
Related Days
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