BTC Flow Analysis — April 22, 2023 CHOP
Saturday · Minute-level BTC order flow from Binance · 859,500 trades
Summary
On Saturday, April 22, 2023, Bitcoin climbed +2.0% to $27,817. Net flow: +1,202 BTC — buyers 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. 28 bars of outsized trades (9.5σ peak) from 00:10–23:49 UTC, adding 226 BTC of buying pressure on top of the broader buying flow.
A clean, flow-driven day. The 0.95 correlation between cumulative flow and price means buying 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
Strip out US and the day would look flat. That session alone contributed 62% of the net flow (748 BTC buying).
Across sessions: Asia +0.05%, Europe -0.08%, US +2.06% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.05% | 311 BTC | 26% |
| Europe | 08:00 - 14:00 | -0.08% | 143 BTC | 12% |
| US | 14:00 - 00:00 | 2.06% | 748 BTC | 62% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a chop-regime day. The +2.03% return was consistent with the period's average of +0.10%.
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