BTC Flow Analysis — February 19, 2025 CHOP
Wednesday · Minute-level BTC order flow from Binance · 2,784,225 trades
Summary
On Wednesday, February 19, 2025, Bitcoin edged higher (+1.02%) to $96,644. Net flow: -2,091 BTC — sellers had the edge.
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
Despite persistent sell-side aggression (flow-price correlation -0.71), price rose +1.02%. This divergence typically signals strong passive demand — buyers who don't need to cross the spread.
The big players were active all day. 26 bars of outsized trades (16.8σ peak) from 03:40–21:40 UTC, adding 361 BTC of selling pressure on top of the broader selling flow.
Net selling for 20 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
Strip out Asia and the day would look flat. That session alone contributed 61% of the net flow (1,282 BTC selling).
Across sessions: Asia +0.02%, Europe +0.62%, US +0.38% — with Europe doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.02% | -1282 BTC | 61% |
| Europe | 08:00 - 14:00 | 0.62% | -695 BTC | 33% |
| US | 14:00 - 00:00 | 0.38% | -114 BTC | 5% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a chop-regime day. The +1.02% return was consistent with the period's average of +0.10%.
Related Days
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