BTC Flow Analysis — February 09, 2025 CHOP
Sunday · Minute-level BTC order flow from Binance · 2,293,192 trades
Summary
February 09, 2025: Bitcoin went nowhere. The 793 BTC of net selling flow at $96,463 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. 22 bars of outsized trades (12.3σ peak) from 00:39–16:24 UTC, adding 16 BTC of selling pressure on top of the broader selling flow.
Net selling for 10 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.90 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
Most of the action happened during Europe hours, which accounted for 76% of the day's net flow (620 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia +0.64%, Europe -1.22%, US +0.61%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.64% | 13 BTC | 2% |
| Europe | 08:00 - 14:00 | -1.22% | -620 BTC | 76% |
| US | 14:00 - 00:00 | 0.61% | -186 BTC | 23% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a chop-regime day. The +0.02% return was consistent with the period's average of +0.10%.
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