BTC Flow Analysis — March 08, 2023 CHOP
Wednesday · Minute-level BTC order flow from Binance · 8,018,963 trades
Summary
On Wednesday, March 08, 2023, Bitcoin lost 2.2% to $21,705. Net flow: -1,445 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. 17 bars with trade sizes 3σ+ above normal (peak: 5.6σ), spread across 01:48–15:13 UTC. The 371 BTC of whale flow reinforced the day's selling bias.
Price followed flow faithfully (correlation: 0.86). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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 -1.02%, Europe +0.08%, US -1.29% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.02% | -810 BTC | 37% |
| Europe | 08:00 - 14:00 | 0.08% | 374 BTC | 17% |
| US | 14:00 - 00:00 | -1.29% | -1009 BTC | 46% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the final days of this chop period. Within 0 day(s), the market would flip to bear.
Volume ran hot: 301,461 BTC traded, +2.8σ above the chop-regime average. High volume days tend to carry more signal.
Related Days
Days with similar flow patterns and market conditions.
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