BTC Flow Analysis — January 22, 2024 CHOP
Monday · Minute-level BTC order flow from Binance · 2,147,250 trades
Summary
Bitcoin closed at $39,568 on January 22, 2024 after fell 4.8%. Aggressor-side flow netted -1,850 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
The big players were active all day. 19 bars of outsized trades (9.4σ peak) from 00:33–23:55 UTC, adding 16 BTC of selling pressure on top of the broader selling flow.
Net selling for 3 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.91 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 US session drove 81% of the day's directional flow, with 1,589 BTC of net selling. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia -1.29%, Europe -0.24%, US -3.36%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.29% | -322 BTC | 16% |
| Europe | 08:00 - 14:00 | -0.24% | 61 BTC | 3% |
| US | 14:00 - 00:00 | -3.36% | -1589 BTC | 81% |
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: -4.84% return sits at -2.1σ from the chop-regime average of +0.10%. Days like this are rare within this regime.
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