BTC Flow Analysis — July 23, 2024 CHOP
Tuesday · Minute-level BTC order flow from Binance · 1,772,089 trades
Summary
July 23, 2024: Bitcoin sold off -2.4%. The 1,068 BTC of net selling flow at $65,936 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. 30 bars of outsized trades (8.3σ peak) from 00:24–23:34 UTC, adding 179 BTC of selling pressure on top of the broader selling flow.
Flow and price moved in lockstep (correlation: 0.89). Aggressor-side selling translated directly into price movement with minimal resistance.
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
Most of the action happened during Asia hours, which accounted for 80% of the day's net flow (851 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia -1.42%, Europe -0.73%, US -0.24%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.42% | -851 BTC | 80% |
| Europe | 08:00 - 14:00 | -0.73% | -82 BTC | 8% |
| US | 14:00 - 00:00 | -0.24% | -136 BTC | 13% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the final days of this chop period. Within 2 day(s), the market would flip to bull.
Related Days
Days with similar flow patterns and market conditions.
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