BTC Flow Analysis — August 14, 2023 CHOP
Monday · Minute-level BTC order flow from Binance · 671,592 trades
Summary
Bitcoin closed at $29,431 on August 14, 2023 after ticked up 0.43%. Aggressor-side flow netted -1,371 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
Sustained large-player selling throughout the day. 22 bars with trade sizes 3σ+ above normal (peak: 8.1σ), spread across 00:21–23:22 UTC. The 303 BTC of whale flow reinforced the day's selling bias.
This was day 6 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
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 Asia session drove 66% of the day's directional flow, with 1,025 BTC of net selling. The other two sessions were comparatively quiet.
Session returns were muted across the board: Asia +0.40%, Europe -0.13%, US +0.16%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.40% | -1025 BTC | 66% |
| Europe | 08:00 - 14:00 | -0.13% | 88 BTC | 6% |
| US | 14:00 - 00:00 | 0.16% | -434 BTC | 28% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The chop regime was running out of road — 2 day(s) before the market shifted to bear. The transition was already underway in hindsight.
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