BTC Flow Analysis — February 27, 2023 BULL
Monday · Minute-level BTC order flow from Binance · 11,754,195 trades
Summary
On Monday, February 27, 2023, Bitcoin went nowhere to $23,492. Net flow: -986 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
The big players were active all day. 24 bars of outsized trades (5.3σ peak) from 03:35–18:33 UTC, adding 661 BTC of selling pressure on top of the broader selling flow.
This was day 7 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
A clean, flow-driven day. The 0.83 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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 -0.56%, Europe +1.19%, US -0.90% — with Europe doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.56% | -900 BTC | 33% |
| Europe | 08:00 - 14:00 | 1.19% | 853 BTC | 32% |
| US | 14:00 - 00:00 | -0.90% | -939 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
In retrospect, the bull regime was ending. CHOP conditions were 1 day(s) away.
Volume ran hot: 283,706 BTC traded, +2.7σ above the bull-regime average. High volume days tend to carry more signal.
Related Days
Days with similar flow patterns and market conditions.
Explore this day's minute-level flow data interactively on the dashboard.
Open Dashboard