BTC Flow Analysis — February 18, 2024 BULL
Sunday · Minute-level BTC order flow from Binance · 1,375,422 trades
Summary
February 18, 2024: Bitcoin edged higher (+0.96%). The 571 BTC of net buying flow at $52,138 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
The big players were active all day. 30 bars of outsized trades (9.2σ peak) from 00:21–23:39 UTC, adding 69 BTC of buying pressure on top of the broader buying flow.
Most of the action happened during US hours, which accounted for 76% of the day's net flow (844 BTC buying). The rest of the day was a footnote.
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
A tale of two halves — sellers pushed 101 BTC through the morning, then buyers flipped the script with 671 BTC in the afternoon.
Breaking it down by session: Asia +0.06%, Europe -0.08%, US +0.99%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.06% | -20 BTC | 2% |
| Europe | 08:00 - 14:00 | -0.08% | -253 BTC | 23% |
| US | 14:00 - 00:00 | 0.99% | 844 BTC | 76% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Market conditions were bull — and this day didn't deviate. A +0.96% return against a regime average of +0.34%.
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