BTC Flow Analysis — October 19, 2023 CHOP
Thursday · Minute-level BTC order flow from Binance · 1,330,256 trades
Summary
On Thursday, October 19, 2023, Bitcoin ticked up +1.39% to $28,714. Net flow: +959 BTC — buyers 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
A cluster of large trades between 00:18–20:31 UTC — 8 bars with trade sizes spiking to 13.9σ above normal. Net buying of 290 BTC, aligned with the day's direction.
Price followed flow faithfully (correlation: 0.95). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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
Strip out Europe and the day would look flat. That session alone contributed 63% of the net flow (748 BTC buying).
Across sessions: Asia +0.04%, Europe +0.53%, US +0.81% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.04% | -116 BTC | 10% |
| Europe | 08:00 - 14:00 | 0.53% | 748 BTC | 63% |
| US | 14:00 - 00:00 | 0.81% | 327 BTC | 27% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The chop regime was running out of road — 1 day(s) before the market shifted to bull. The transition was already underway in hindsight.
Related Days
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