BTC Flow Analysis — January 10, 2023 CHOP
Tuesday · Minute-level BTC order flow from Binance · 5,448,751 trades
Summary
On Tuesday, January 10, 2023, Bitcoin edged higher (+1.52%) to $17,441. Net flow: -2,628 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 -0.78), price rose +1.52%. This divergence typically signals strong passive demand — buyers who don't need to cross the spread.
Whale-sized trades (26 bars above 3σ, peak 6.9σ) pushed 472 BTC of net buying between 01:06–23:55 UTC — while price went the other way. Possible accumulation, possible pain.
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
Across sessions: Asia +0.14%, Europe +0.25%, US +1.13% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.14% | -664 BTC | 25% |
| Europe | 08:00 - 14:00 | 0.25% | -1242 BTC | 47% |
| US | 14:00 - 00:00 | 1.13% | -722 BTC | 27% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the final days of this chop period. Within 2 day(s), the market would flip to bull.
Net flow of -2,628 BTC was elevated at -1.7σ vs the chop-regime average of -670 BTC.
The selling streak extended to 9 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
Days with similar flow patterns and market conditions.
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