BTC Flow Analysis — July 21, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 555,611 trades
Summary
On Friday, July 21, 2023, Bitcoin edged higher (+0.34%) to $29,902. Net flow: -749 BTC — sellers had the edge.
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. 16 bars of outsized trades (8.3σ peak) from 00:23–23:35 UTC, adding 168 BTC of selling pressure on top of the broader selling flow.
Net selling for 8 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
Strip out Asia and the day would look flat. That session alone contributed 64% of the net flow (481 BTC selling).
Morning and afternoon traded like two different markets. Sellers led early (-897 BTC), buyers dominated late (+149 BTC).
No single session dominated price action: Asia -0.11%, Europe +0.16%, US +0.29%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.11% | -481 BTC | 64% |
| Europe | 08:00 - 14:00 | 0.16% | -125 BTC | 17% |
| US | 14:00 - 00:00 | 0.29% | -143 BTC | 19% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The market was 1 day(s) into a new chop regime, having transitioned from bull. Early-regime days often carry residual momentum from the prior period.
Related Days
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