BTC Flow Analysis — May 05, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 1,288,027 trades
Summary
Bitcoin rallied +2.3% on Friday, May 05, 2023, closing at $29,506 as sellers controlled aggregate flow with 272 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
The big players were active all day. 15 bars of outsized trades (5.7σ peak) from 00:36–14:44 UTC, adding 18 BTC of selling pressure on top of the broader selling flow.
Flow reversed midday. The first 12 hours belonged to sellers (-418 BTC), but buyers erased that and then some (+147 BTC) in the back half.
Net selling for 5 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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
Europe traders set the tone. 75% of directional flow — 203 BTC of selling — came from that single session.
Session returns: Asia +0.78%, Europe +0.39%, US +1.13%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.78% | -26 BTC | 9% |
| Europe | 08:00 - 14:00 | 0.39% | -203 BTC | 75% |
| US | 14:00 - 00:00 | 1.13% | -43 BTC | 16% |
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 chop — and this day didn't deviate. A +2.31% return against a regime average of +0.10%.
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