BTC Flow Analysis — September 16, 2024 BEAR
Monday · Minute-level BTC order flow from Binance · 3,145,152 trades
Summary
September 16, 2024: Bitcoin slipped 1.55%. The 758 BTC of net selling flow at $58,214 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
The big players were active all day. 26 bars of outsized trades (9.3σ peak) from 02:49–23:41 UTC, adding 103 BTC of selling pressure on top of the broader selling flow.
A clean, flow-driven day. The 0.91 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
Breaking it down by session: Asia -0.37%, Europe -0.70%, US -0.48%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.37% | -374 BTC | 49% |
| Europe | 08:00 - 14:00 | -0.70% | -124 BTC | 16% |
| US | 14:00 - 00:00 | -0.48% | -260 BTC | 34% |
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 3 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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