BTC Flow Analysis — November 15, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 1,545,427 trades
Summary
November 15, 2023: Bitcoin ripped +6.5% to the upside. The 2,715 BTC of net buying flow at $37,858 told a clear story — buyers 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
The big players were active all day. 18 bars of outsized trades (9.9σ peak) from 00:19–22:02 UTC, adding 293 BTC of buying pressure on top of the broader buying flow.
Most of the action happened during US hours, which accounted for 68% of the day's net flow (2,132 BTC buying). The rest of the day was a footnote.
Price followed flow faithfully (correlation: 0.99). 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
Breaking it down by session: Asia +0.07%, Europe +1.47%, US +4.87%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.07% | -216 BTC | 7% |
| Europe | 08:00 - 14:00 | 1.47% | 799 BTC | 25% |
| US | 14:00 - 00:00 | 4.87% | 2132 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
Even by bull-regime standards, +6.49% was extreme — +2.2σ from the +0.34% average. This wasn't a normal bull day.
A +1.6σ day — buying pressure exceeded the typical bull-regime flow (-386 BTC) by a notable margin.
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