BTC Flow Analysis — January 25, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 8,060,446 trades
Summary
January 25, 2023: Bitcoin edged higher (+1.90%). The 747 BTC of net selling flow at $23,061 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
8 bars of outsized trades (peak 4.6σ) appeared between 01:18–20:11 UTC, with whale flow netting 174 BTC of buying.
This was day 5 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
A tale of two halves — sellers pushed 1,949 BTC through the morning, then buyers flipped the script with 1,201 BTC in the afternoon.
Breaking it down by session: Asia +0.36%, Europe -0.51%, US +2.06%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.36% | -1054 BTC | 41% |
| Europe | 08:00 - 14:00 | -0.51% | -593 BTC | 23% |
| US | 14:00 - 00:00 | 2.06% | 901 BTC | 35% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Unusually heavy volume at 346,043 BTC — +3.5σ above the bull-regime baseline. The market was paying attention.
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