BTC Flow Analysis — August 31, 2023 BEAR
Thursday · Minute-level BTC order flow from Binance · 944,690 trades
Summary
Bitcoin sold off -5.0% on Thursday, August 31, 2023, closing at $25,941 as sellers controlled aggregate flow with 1,837 BTC of net pressure.
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. 24 bars with trade sizes 3σ+ above normal (peak: 9.0σ), spread across 00:54–17:03 UTC. The 246 BTC of whale flow reinforced the day's selling bias.
Flow and price moved in lockstep (correlation: 0.94). Aggressor-side selling translated directly into price movement with minimal resistance.
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
US traders set the tone. 67% of directional flow — 1,233 BTC of selling — came from that single session.
Session returns: Asia -0.14%, Europe -0.41%, US -4.45%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.14% | -321 BTC | 17% |
| Europe | 08:00 - 14:00 | -0.41% | -283 BTC | 15% |
| US | 14:00 - 00:00 | -4.45% | -1233 BTC | 67% |
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 -4.98% return was consistent with the period's average of -0.27%.
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