BTC Flow Analysis — December 07, 2023 BULL
Thursday · Minute-level BTC order flow from Binance · 1,414,759 trades
Summary
December 07, 2023: Bitcoin slipped 1.12%. The 1,832 BTC of net selling flow at $43,273 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
The big players were active all day. 30 bars of outsized trades (7.6σ peak) from 01:55–23:40 UTC, adding 107 BTC of selling pressure on top of the broader selling flow.
A clean, flow-driven day. The 0.94 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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
Most of the action happened during Europe hours, which accounted for 75% of the day's net flow (1,379 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia +0.28%, Europe -1.34%, US -0.05%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.28% | -443 BTC | 24% |
| Europe | 08:00 - 14:00 | -1.34% | -1379 BTC | 75% |
| US | 14:00 - 00:00 | -0.05% | -10 BTC | 1% |
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 bull-regime day. The -1.12% return was consistent with the period's average of +0.34%.
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