BTC Flow Analysis — January 31, 2023 BULL
Tuesday · Minute-level BTC order flow from Binance · 6,798,411 trades
Summary
January 31, 2023: Bitcoin edged higher (+1.30%). The 1,407 BTC of net buying flow at $23,125 told a clear story — buyers 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
Sustained large-player buying throughout the day. 13 bars with trade sizes 3σ+ above normal (peak: 4.7σ), spread across 00:11–21:18 UTC. The 339 BTC of whale flow reinforced the day's buying bias.
Most of the action happened during US hours, which accounted for 81% of the day's net flow (1,353 BTC buying). The rest of the day was a footnote.
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 459 BTC through the morning, then buyers flipped the script with 1,866 BTC in the afternoon.
Breaking it down by session: Asia +0.66%, Europe +0.65%, US -0.01%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.66% | -129 BTC | 8% |
| Europe | 08:00 - 14:00 | 0.65% | 183 BTC | 11% |
| US | 14:00 - 00:00 | -0.01% | 1353 BTC | 81% |
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 264,649 BTC — +2.5σ above the bull-regime baseline. The market was paying attention.
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