BTC Flow Analysis — January 11, 2023 CHOP
Wednesday · Minute-level BTC order flow from Binance · 5,627,464 trades
Summary
Bitcoin closed at $17,943 on January 11, 2023 after pushed 2.9% higher. Aggressor-side flow netted -2,332 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
33 bars of outsized trades (peak 5.8σ) appeared between 00:46–23:33 UTC, with whale flow netting 963 BTC of buying.
This was day 10 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
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 Europe session drove 85% of the day's directional flow, with 2,467 BTC of net selling. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia +0.03%, Europe -0.19%, US +3.04%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.03% | -150 BTC | 5% |
| Europe | 08:00 - 14:00 | -0.19% | -2467 BTC | 85% |
| US | 14:00 - 00:00 | 3.04% | 284 BTC | 10% |
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 1 day(s), the market would flip to bull.
A -1.5σ day — selling pressure exceeded the typical chop-regime flow (-670 BTC) by a notable margin.
Volume ran hot: 262,222 BTC traded, +2.3σ above the chop-regime average. High volume days tend to carry more signal.
Related Days
Days with similar flow patterns and market conditions.
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