BTC Flow Analysis — September 25, 2022 CHOP
Sunday · Minute-level BTC order flow from Binance · 3,714,450 trades
Summary
Bitcoin slipped 0.61% on Sunday, September 25, 2022, closing at $18,807 as sellers controlled aggregate flow with 1,213 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
Sustained large-player selling throughout the day. 12 bars with trade sizes 3σ+ above normal (peak: 10.5σ), spread across 01:46–23:32 UTC. The 106 BTC of whale flow reinforced the day's selling bias.
Flow reversed midday. The first 12 hours belonged to buyers (+875 BTC), but sellers erased that and then some (-2,088 BTC) in the back half.
A clean, flow-driven day. The 0.86 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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 +0.93%, Europe -0.85%, US -0.68%. Asia led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.93% | 939 BTC | 30% |
| Europe | 08:00 - 14:00 | -0.85% | -777 BTC | 25% |
| US | 14:00 - 00:00 | -0.68% | -1375 BTC | 44% |
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 1), with the bear regime barely in the rearview mirror.
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