BTC Flow Analysis — April 09, 2023 BULL
Sunday · Minute-level BTC order flow from Binance · 777,589 trades
Summary
April 09, 2023: Bitcoin edged higher (+1.38%). The 1,240 BTC of net buying flow at $28,324 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
The big players were active all day. 18 bars of outsized trades (5.4σ peak) from 00:27–23:47 UTC, adding 78 BTC of buying pressure on top of the broader buying flow.
Most of the action happened during US hours, which accounted for 70% of the day's net flow (1,188 BTC buying). The rest of the day was a footnote.
Flow and price moved in lockstep (correlation: 0.94). Aggressor-side buying translated directly into price movement with minimal resistance.
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
Breaking it down by session: Asia -0.13%, Europe +0.01%, US +1.50%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.13% | 283 BTC | 17% |
| Europe | 08:00 - 14:00 | 0.01% | -231 BTC | 14% |
| US | 14:00 - 00:00 | 1.50% | 1188 BTC | 70% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Market conditions were bull — and this day didn't deviate. A +1.38% return against a regime average of +0.34%.
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