BTC Flow Analysis — September 10, 2025 CHOP
Wednesday · Minute-level BTC order flow from Binance · 2,182,534 trades
Summary
September 10, 2025: Bitcoin pushed +2.2% higher. The 968 BTC of net selling flow at $113,960 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
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.61), but price still climbed +2.16%. The buying was passive — limit orders soaking up the supply.
Whale-sized trades (42 bars above 3σ, peak 13.6σ) pushed 443 BTC of net buying between 00:26–23:53 UTC — while price went the other way. Possible accumulation, possible pain.
Most of the action happened during US hours, which accounted for 90% of the day's net flow (963 BTC selling). The rest of the day was a footnote.
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 +0.90%, Europe +1.24%, US +0.01%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.90% | 49 BTC | 5% |
| Europe | 08:00 - 14:00 | 1.24% | -54 BTC | 5% |
| US | 14:00 - 00:00 | 0.01% | -963 BTC | 90% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The selling streak extended to 11 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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