BTC Flow Analysis — August 13, 2024 CHOP
Tuesday · Minute-level BTC order flow from Binance · 1,713,485 trades
Summary
August 13, 2024: Bitcoin rallied +2.1%. The 565 BTC of net selling flow at $60,587 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: -0.48), but price still climbed +2.09%. The buying was passive — limit orders soaking up the supply.
Sustained large-player selling throughout the day. 27 bars with trade sizes 3σ+ above normal (peak: 7.9σ), spread across 00:53–23:48 UTC. The 213 BTC of whale flow reinforced the day's selling bias.
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 65% of the day's net flow (369 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia -0.18%, Europe +0.27%, US +2.01%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.18% | -12 BTC | 2% |
| Europe | 08:00 - 14:00 | 0.27% | -369 BTC | 65% |
| US | 14:00 - 00:00 | 2.01% | -184 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
In retrospect, the chop regime was ending. BEAR conditions were 1 day(s) away.
The selling streak extended to 5 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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