BTC Flow Analysis — May 26, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 655,755 trades
Summary
Bitcoin closed at $26,706 on May 26, 2023 after ground out a 0.88% gain. Aggressor-side flow netted -2,046 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
Aggressor-side sellers pushed flow negative throughout the day (flow-price correlation: -0.73), yet price finished up +0.88%. Passive buyers on the bid absorbed the selling without showing up in aggressor-side data.
The big players were active all day. 19 bars of outsized trades (10.0σ peak) from 00:21–21:10 UTC, adding 87 BTC of selling pressure on top of the broader selling flow.
Day 9 of unbroken net selling. The market had a directional lean and wasn't letting go.
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 +0.10%, Europe +0.15%, US +0.63%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.10% | -314 BTC | 15% |
| Europe | 08:00 - 14:00 | 0.15% | -822 BTC | 40% |
| US | 14:00 - 00:00 | 0.63% | -910 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
This was near the start of a chop regime (day 2), with the bear regime barely in the rearview mirror.
Related Days
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