BTC Flow Analysis — January 09, 2023 CHOP
Monday · Minute-level BTC order flow from Binance · 6,327,667 trades
Summary
Bitcoin closed at $17,178 on January 09, 2023 after traded flat. Aggressor-side flow netted -2,714 BTC, favoring sellers.
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. 19 bars of outsized trades (6.2σ peak) from 01:39–20:58 UTC, adding 82 BTC of selling pressure on top of the broader selling flow.
The day split in half. Buyers controlled the first 12 hours (+894 BTC), then sellers took over (-3,609 BTC). The reversal changed the character of the day.
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
The US session drove 82% of the day's directional flow, with 3,451 BTC of net selling. The other two sessions were comparatively quiet.
All three sessions posted small moves: Asia +0.41%, Europe +0.17%, US -0.28% — a balanced day with no clear regional driver.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.41% | 553 BTC | 13% |
| Europe | 08:00 - 14:00 | 0.17% | 184 BTC | 4% |
| US | 14:00 - 00:00 | -0.28% | -3451 BTC | 82% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the chop regime was ending. BULL conditions were 3 day(s) away.
Net flow of -2,714 BTC was elevated at -1.8σ vs the chop-regime average of -670 BTC.
Trading activity surged to +2.4σ above the regime norm (266,212 BTC). When volume spikes like this, the flow data carries more weight.
The selling streak extended to 8 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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