BTC Flow Analysis — May 27, 2023 CHOP
Saturday · Minute-level BTC order flow from Binance · 415,694 trades
Summary
May 27, 2023: Bitcoin edged higher (+0.56%). The 791 BTC of net selling flow at $26,854 told a clear story — sellers were in charge.
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. 12 bars of outsized trades (7.7σ peak) from 00:28–23:02 UTC, adding 216 BTC of selling pressure on top of the broader selling flow.
Net selling for 10 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
Breaking it down by session: Asia +0.06%, Europe -0.35%, US +0.85%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.06% | -332 BTC | 42% |
| Europe | 08:00 - 14:00 | -0.35% | -425 BTC | 54% |
| US | 14:00 - 00:00 | 0.85% | -34 BTC | 4% |
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 3), with the bear regime barely in the rearview mirror.
Related Days
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