BTC Flow Analysis — March 05, 2023 CHOP
Sunday · Minute-level BTC order flow from Binance · 4,835,978 trades
Summary
Bitcoin ground out a +0.37% gain on Sunday, March 05, 2023, closing at $22,430 as sellers controlled aggregate flow with 53 BTC of net pressure.
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
Whale activity concentrated around 00:18 UTC: 7 bars with average trade sizes 4.3σ above baseline. The 124 BTC of net selling added conviction to the selling move.
Flow reversed midday. The first 12 hours belonged to sellers (-115 BTC), but buyers erased that and then some (+62 BTC) in the back half.
This was day 4 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
A clean, flow-driven day. The 0.88 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
All three sessions posted small moves: Asia +0.13%, Europe +0.40%, US -0.16% — a balanced day with no clear regional driver.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.13% | -232 BTC | 32% |
| Europe | 08:00 - 14:00 | 0.40% | 331 BTC | 46% |
| US | 14:00 - 00:00 | -0.16% | -152 BTC | 21% |
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 chop regime was ending. BEAR conditions were 3 day(s) away.
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