BTC Flow Analysis — October 05, 2023 CHOP
Thursday · Minute-level BTC order flow from Binance · 1,210,397 trades
Summary
October 05, 2023: Bitcoin drifted lower (-1.33%). The 710 BTC of net selling flow at $27,410 told a clear story — sellers were in charge.
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
26 bars of outsized trades (peak 7.8σ) appeared between 00:13–22:35 UTC, with whale flow netting 176 BTC of buying.
Most of the action happened during US hours, which accounted for 68% of the day's net flow (1,343 BTC selling). The rest of the day was a footnote.
Flow and price moved in lockstep (correlation: 0.88). 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
A tale of two halves — buyers pushed 229 BTC through the morning, then sellers flipped the script with 939 BTC in the afternoon.
Breaking it down by session: Asia -0.61%, Europe +1.39%, US -2.08%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.61% | 241 BTC | 12% |
| Europe | 08:00 - 14:00 | 1.39% | 393 BTC | 20% |
| US | 14:00 - 00:00 | -2.08% | -1343 BTC | 68% |
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 -1.33% return was consistent with the period's average of +0.10%.
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