BTC Flow Analysis — March 17, 2021 CHOP
Wednesday · Minute-level BTC order flow from Binance · 2,204,296 trades
Summary
On Wednesday, March 17, 2021, Bitcoin rallied +3.5% to $58,913. Net flow: -864 BTC — sellers had the edge.
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
24 bars of outsized trades (peak 7.0σ) appeared between 03:18–23:39 UTC, with whale flow netting 24 BTC of buying.
Net selling for 4 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
From $54,124 to $58,975 — a 8.5% range that forced both bulls and bears to respect the volatility.
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
Morning and afternoon traded like two different markets. Sellers led early (-1,412 BTC), buyers dominated late (+548 BTC).
Across sessions: Asia -1.90%, Europe -1.28%, US +6.90% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.90% | -556 BTC | 26% |
| Europe | 08:00 - 14:00 | -1.28% | -925 BTC | 44% |
| US | 14:00 - 00:00 | 6.90% | 617 BTC | 29% |
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 +3.54% return was consistent with the period's average of +0.10%.
Related Days
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