BTC Flow Analysis — October 20, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 1,915,748 trades
Summary
Bitcoin rallied +3.3% on Friday, October 20, 2023, closing at $29,669 as sellers controlled aggregate flow with 489 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
The big players were active all day. 33 bars of outsized trades (8.4σ peak) from 00:47–20:59 UTC, adding 738 BTC of selling pressure on top of the broader selling flow.
Flow reversed midday. The first 12 hours belonged to buyers (+985 BTC), but sellers erased that and then some (-1,474 BTC) in the back half.
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
Session returns: Asia +1.83%, Europe +1.42%, US +0.05%. Asia led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.83% | -217 BTC | 13% |
| Europe | 08:00 - 14:00 | 1.42% | 587 BTC | 35% |
| US | 14:00 - 00:00 | 0.05% | -859 BTC | 52% |
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 chop regime was ending. BULL conditions were 0 day(s) away.
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