BTC Flow Analysis — September 22, 2024 CHOP
Sunday · Minute-level BTC order flow from Binance · 2,145,736 trades
Summary
Bitcoin edged higher (+0.36%) on Sunday, September 22, 2024, closing at $63,579 as sellers controlled aggregate flow with 396 BTC of net pressure.
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. 41 bars of outsized trades (19.3σ peak) from 00:22–21:45 UTC, adding 39 BTC of selling pressure on top of the broader selling flow.
Flow reversed midday. The first 12 hours belonged to sellers (-463 BTC), but buyers erased that and then some (+68 BTC) in the back half.
Net selling for 3 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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: Asia -0.65%, Europe -0.55%, US +1.58%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.65% | -291 BTC | 26% |
| Europe | 08:00 - 14:00 | -0.55% | -461 BTC | 42% |
| US | 14:00 - 00:00 | 1.58% | 356 BTC | 32% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This was near the start of a chop regime (day 2), with the bear regime barely in the rearview mirror.
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