BTC Flow Analysis — August 23, 2023 BEAR
Wednesday · Minute-level BTC order flow from Binance · 673,711 trades
Summary
On Wednesday, August 23, 2023, Bitcoin ground out a +1.45% gain to $26,433. Net flow: -112 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
14 bars of outsized trades (peak 12.1σ) appeared between 00:13–16:23 UTC, with whale flow netting 278 BTC of buying.
This was day 3 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
Morning and afternoon traded like two different markets. Sellers led early (-519 BTC), buyers dominated late (+407 BTC).
Across sessions: Asia +0.00%, Europe -0.15%, US +1.59% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.00% | 16 BTC | 1% |
| Europe | 08:00 - 14:00 | -0.15% | -593 BTC | 55% |
| US | 14:00 - 00:00 | 1.59% | 465 BTC | 43% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a bear-regime day. The +1.45% return was consistent with the period's average of -0.27%.
Related Days
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