BTC Flow Analysis — September 20, 2024 BEAR
Friday · Minute-level BTC order flow from Binance · 3,969,296 trades
Summary
September 20, 2024: Bitcoin ticked up +0.40%. The 644 BTC of net selling flow at $63,201 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
24 bars of outsized trades (peak 8.1σ) appeared between 00:31–23:08 UTC, with whale flow netting 97 BTC of buying.
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 Europe hours, which accounted for 65% of the day's net flow (594 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia +0.92%, Europe -1.08%, US +0.58%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.92% | 134 BTC | 15% |
| Europe | 08:00 - 14:00 | -1.08% | -594 BTC | 65% |
| US | 14:00 - 00:00 | 0.58% | -184 BTC | 20% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bear regime was running out of road — 0 day(s) before the market shifted to chop. The transition was already underway in hindsight.
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