BTC Flow Analysis — September 11, 2023 BEAR
Monday · Minute-level BTC order flow from Binance · 864,138 trades
Summary
Bitcoin fell 2.6% on Monday, September 11, 2023, closing at $25,163 as sellers controlled aggregate flow with 2,353 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
19 bars of outsized trades (peak 6.8σ) appeared between 00:19–16:01 UTC, with whale flow netting 29 BTC of buying.
Net selling for 13 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.98 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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. 64% of directional flow — 1,500 BTC of selling — came from that single session.
Session returns: Asia -0.11%, Europe -0.76%, US -1.78%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.11% | -315 BTC | 13% |
| Europe | 08:00 - 14:00 | -0.76% | -537 BTC | 23% |
| US | 14:00 - 00:00 | -1.78% | -1500 BTC | 64% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the bear regime was ending. CHOP conditions were 2 day(s) away.
Related Days
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