BTC Flow Analysis — June 20, 2023 CHOP
Tuesday · Minute-level BTC order flow from Binance · 1,189,024 trades
Summary
Bitcoin closed at $28,308 on June 20, 2023 after surged 5.5%. Aggressor-side flow netted +438 BTC, favoring buyers.
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. 27 bars of outsized trades (7.0σ peak) from 01:58–23:45 UTC, adding 511 BTC of buying pressure on top of the broader buying flow.
The day split in half. Sellers controlled the first 12 hours (-446 BTC), then buyers took over (+885 BTC). The reversal changed the character of the day.
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 drove 63% of the day's directional flow, with 1,042 BTC of net buying. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia -0.04%, Europe -0.08%, US +5.58%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.04% | -208 BTC | 13% |
| Europe | 08:00 - 14:00 | -0.08% | -395 BTC | 24% |
| US | 14:00 - 00:00 | 5.58% | 1042 BTC | 63% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Even by chop-regime standards, +5.45% was extreme — +2.3σ from the +0.10% average. This wasn't a normal chop day.
This was near the start of a chop regime (day 2), with the bear regime barely in the rearview mirror.
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