BTC Flow Analysis — September 21, 2024 CHOP
Saturday · Minute-level BTC order flow from Binance · 1,283,611 trades
Summary
September 21, 2024: Bitcoin finished near unchanged (+0.23%). The 620 BTC of net selling flow at $63,349 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. 36 bars of outsized trades (12.3σ peak) from 00:15–21:19 UTC, adding 231 BTC of selling pressure on top of the broader selling flow.
A disconnect between flow and price (correlation: -0.60). Neither buyers nor sellers could convert aggressor-side pressure into directional movement.
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
Session returns were muted across the board: Asia -0.17%, Europe +0.15%, US +0.25%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.17% | -241 BTC | 39% |
| Europe | 08:00 - 14:00 | 0.15% | -207 BTC | 33% |
| US | 14:00 - 00:00 | 0.25% | -172 BTC | 28% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 1 of a fresh chop regime. The market had just flipped from bear, and the new character was still establishing itself.
Related Days
Days with similar flow patterns and market conditions.
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