BTC Flow Analysis — September 05, 2024 CHOP
Thursday · Minute-level BTC order flow from Binance · 3,368,058 trades
Summary
September 05, 2024: Bitcoin sold off -3.1%. The 1,895 BTC of net selling flow at $56,180 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. 18 bars of outsized trades (8.6σ peak) from 00:14–21:22 UTC, adding 153 BTC of selling pressure on top of the broader selling flow.
This was day 11 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
Flow and price moved in lockstep (correlation: 0.97). 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
Breaking it down by session: Asia -1.41%, Europe -0.22%, US -1.49%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.41% | -1094 BTC | 58% |
| Europe | 08:00 - 14:00 | -0.22% | -59 BTC | 3% |
| US | 14:00 - 00:00 | -1.49% | -742 BTC | 39% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the chop regime was ending. BEAR conditions were 1 day(s) away.
Related Days
Days with similar flow patterns and market conditions.
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