BTC Flow Analysis — May 09, 2024 BEAR
Thursday · Minute-level BTC order flow from Binance · 1,381,957 trades
Summary
May 09, 2024: Bitcoin rallied +3.1%. The 421 BTC of net selling flow at $63,074 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
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.35), but price still climbed +3.07%. The buying was passive — limit orders soaking up the supply.
The big players were active all day. 38 bars of outsized trades (7.1σ peak) from 01:03–20:06 UTC, adding 140 BTC of selling pressure on top of the broader selling flow.
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 713 BTC through the morning, then buyers flipped the script with 293 BTC in the afternoon.
Breaking it down by session: Asia +0.10%, Europe -0.12%, US +3.09%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.10% | -251 BTC | 21% |
| Europe | 08:00 - 14:00 | -0.12% | -571 BTC | 47% |
| US | 14:00 - 00:00 | 3.09% | 401 BTC | 33% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The selling streak extended to 5 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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