BTC Flow Analysis — September 17, 2023 CHOP
Sunday · Minute-level BTC order flow from Binance · 476,775 trades
Summary
Bitcoin closed at $26,528 on September 17, 2023 after went nowhere. Aggressor-side flow netted -278 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
Large-player activity detected: 24 bars with trade sizes 3σ+ above normal (peak: 11.4σ) between 00:55–20:06 UTC. Whale flow netted 275 BTC of buying.
The day split in half. Buyers controlled the first 12 hours (+10 BTC), then sellers took over (-288 BTC). The reversal changed the character of the day.
Net selling for 3 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
The 0.84% intraday range was minimal. Neither side could generate momentum, creating a coiled market.
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
All three sessions posted small moves: Asia -0.24%, Europe +0.18%, US -0.06% — a balanced day with no clear regional driver.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.24% | -235 BTC | 27% |
| Europe | 08:00 - 14:00 | 0.18% | 299 BTC | 34% |
| US | 14:00 - 00:00 | -0.06% | -342 BTC | 39% |
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 chop-regime day. The -0.12% return was consistent with the period's average of +0.10%.
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