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Intraday and Weekly Patterns in Bitcoin Order-Book Liquidity

Article Amberdata research
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Summary

The report studies temporal changes in order-book depth and imbalance for Binance’s BTC/FDUSD market using minute-level data collected from July 1 to August 12, 2025. It describes an intraday depth peak around 11:00 UTC and a trough around 21:00 UTC, relating the difference to overlapping regional trading hours and the withdrawal of liquidity providers. It argues that execution cost and market impact can vary with the time of day, and suggests adjusting order timing and aggressiveness accordingly.

It also discusses intraday imbalance shifts and differences across trading sessions. The reported patterns are observational evidence from one market and a period of roughly six weeks, not proof that timing alone causes price moves or that the patterns will persist. The report notes that volatility can disrupt the usual cycle. Some sections are incomplete in the supplied text, and promotional material accompanies the analysis; its execution suggestions therefore warrant independent validation before generalizing to other venues, pairs, or periods.

Key ideas

  • The report analyzes minute-level depth and imbalance in Binance BTC/FDUSD data from July 1 to August 12, 2025.
  • It identifies an observed depth peak around 11:00 UTC and a trough around 21:00 UTC.
  • The report connects intraday liquidity variation with regional trading schedules and changing market participation.
  • It suggests that execution timing and order aggressiveness can affect slippage and market impact.
  • The evidence covers one pair and a limited period, and volatility can disrupt the observed patterns.

Tags

CryptoMarket microstructureExecutionStatistics

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.