BTC Flow Analysis — February 07, 2024 CHOP
Wednesday · Minute-level BTC order flow from Binance · 1,378,809 trades
Summary
February 07, 2024: Bitcoin climbed +2.9%. The 1,119 BTC of net buying flow at $44,350 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. 38 bars of outsized trades (8.1σ peak) from 00:11–23:58 UTC, adding 306 BTC of buying pressure on top of the broader buying flow.
Most of the action happened during US hours, which accounted for 73% of the day's net flow (1,778 BTC buying). The rest of the day was a footnote.
A clean, flow-driven day. The 0.88 correlation between cumulative flow and price means buying 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
A tale of two halves — sellers pushed 756 BTC through the morning, then buyers flipped the script with 1,876 BTC in the afternoon.
Breaking it down by session: Asia -0.42%, Europe +0.52%, US +2.80%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.42% | -478 BTC | 20% |
| Europe | 08:00 - 14:00 | 0.52% | -181 BTC | 7% |
| US | 14:00 - 00:00 | 2.80% | 1778 BTC | 73% |
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 3 day(s) away.
The buying streak extended to 3 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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