BTC Flow Analysis — May 23, 2024 BULL
Thursday · Minute-level BTC order flow from Binance · 1,827,855 trades
Summary
Bitcoin slipped 1.73% on Thursday, May 23, 2024, closing at $67,970 as sellers controlled aggregate flow with 931 BTC of net pressure.
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
Large-player activity detected: 26 bars with trade sizes 3σ+ above normal (peak: 6.7σ) between 00:31–23:44 UTC. Whale flow netted 7 BTC of buying.
Net selling for 3 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.87 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
Europe traders set the tone. 70% of directional flow — 651 BTC of selling — came from that single session.
Session returns: Asia +0.82%, Europe -2.43%, US -0.10%. Europe led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.82% | -130 BTC | 14% |
| Europe | 08:00 - 14:00 | -2.43% | -651 BTC | 70% |
| US | 14:00 - 00:00 | -0.10% | -149 BTC | 16% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This day sat within a bull regime. The -1.73% return tracked the regime average of +0.34%.
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