BTC Flow Analysis — March 03, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 8,214,639 trades
Summary
On Friday, March 03, 2023, Bitcoin lost 4.7% to $22,354. Net flow: -6,300 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
Sustained large-player selling throughout the day. 11 bars with trade sizes 3σ+ above normal (peak: 6.2σ), spread across 00:49–12:56 UTC. The 2,848 BTC of whale flow reinforced the day's selling bias.
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 -4.71%, Europe +0.19%, US -0.22% — with Asia doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -4.71% | -3467 BTC | 55% |
| Europe | 08:00 - 14:00 | 0.19% | -1597 BTC | 25% |
| US | 14:00 - 00:00 | -0.22% | -1236 BTC | 20% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Net selling hit 6,300 BTC, landing -4.1σ outside the chop-regime norm. Days with this level of one-sided flow have historically marked inflection points within the regime.
Even by chop-regime standards, -4.73% was extreme — -2.1σ from the +0.10% average. This wasn't a normal chop day.
Day 3 of a fresh chop regime. The market had just flipped from bull, and the new character was still establishing itself.
Trading activity surged to +3.0σ above the regime norm (319,954 BTC). When volume spikes like this, the flow data carries more weight.
Related Days
Days with similar flow patterns and market conditions.
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