BTC Flow Analysis — May 03, 2023 CHOP
Wednesday · Minute-level BTC order flow from Binance · 1,502,909 trades
Summary
Bitcoin closed at $29,026 on May 03, 2023 after edged higher (1.24%). Aggressor-side flow netted -33 BTC, favoring sellers.
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. 16 bars with trade sizes 3σ+ above normal (peak: 8.2σ), spread across 00:10–23:07 UTC. The 238 BTC of whale flow reinforced the day's selling bias.
The day split in half. Sellers controlled the first 12 hours (-186 BTC), then buyers took over (+152 BTC). The reversal changed the character of the day.
Day 3 of unbroken net selling. The market had a directional lean and wasn't letting go.
Flow and price moved in lockstep (correlation: 0.83). Aggressor-side selling 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
The US session posted the largest move. Full breakdown: Asia -0.06%, Europe -0.98%, US +2.30%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.06% | 30 BTC | 4% |
| Europe | 08:00 - 14:00 | -0.98% | -412 BTC | 52% |
| US | 14:00 - 00:00 | 2.30% | 348 BTC | 44% |
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 +1.24% return was consistent with the period's average of +0.10%.
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