BTC Flow Analysis — May 13, 2023 BEAR
Saturday · Minute-level BTC order flow from Binance · 605,049 trades
Summary
Bitcoin closed at $26,775 on May 13, 2023 after finished near unchanged (0.07%). Aggressor-side flow netted -896 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
Large players were on the wrong side — or the patient side. 14 bars of outsized trade sizes (peak 6.3σ) showed net buying, but price moved against them. Either they were accumulating into weakness or got caught.
Flow and price told different stories (correlation: -0.35). Aggressor-side flow leaned one way but price barely moved — the opposing side matched it passively.
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
Session returns were muted across the board: Asia -0.09%, Europe +0.18%, US -0.17%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.09% | -349 BTC | 39% |
| Europe | 08:00 - 14:00 | 0.18% | -149 BTC | 17% |
| US | 14:00 - 00:00 | -0.17% | -398 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
Day 3 of a fresh bear regime. The market had just flipped from chop, and the new character was still establishing itself.
The selling streak extended to 4 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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