Saturday · Minute-level BTC order flow from Binance · 1,434,243 trades
January 13, 2024: Bitcoin went nowhere. The 622 BTC of net selling flow at $42,848 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).
A cluster of large trades between 00:29–21:47 UTC — 8 bars with trade sizes spiking to 7.6σ above normal. Net selling of 50 BTC, aligned with the day's direction.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
A tale of two halves — sellers pushed 828 BTC through the morning, then buyers flipped the script with 205 BTC in the afternoon.
Breaking it down by session: Asia +0.75%, Europe -0.84%, US +0.25%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.75% | -325 BTC | 33% |
| Europe | 08:00 - 14:00 | -0.84% | -473 BTC | 49% |
| US | 14:00 - 00:00 | 0.25% | 176 BTC | 18% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
The bull regime was running out of road — 1 day(s) before the market shifted to chop. The transition was already underway in hindsight.
Days with similar flow patterns and market conditions.
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