BTC Flow Analysis — March 19, 2021 CHOP
Friday · Minute-level BTC order flow from Binance · 1,885,830 trades
Summary
March 19, 2021: Bitcoin ticked up +0.67%. The 1,288 BTC of net selling flow at $58,030 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: -0.79), but price still climbed +0.67%. The buying was passive — limit orders soaking up the supply.
Large players were on the wrong side — or the patient side. 9 bars of outsized trade sizes (peak 6.6σ) showed net buying, but price moved against them. Either they were accumulating into weakness or got caught.
Net selling for 6 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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 +0.33%, Europe +0.77%, US -0.43%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.33% | -732 BTC | 57% |
| Europe | 08:00 - 14:00 | 0.77% | -220 BTC | 17% |
| US | 14:00 - 00:00 | -0.43% | -336 BTC | 26% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Market conditions were chop — and this day didn't deviate. A +0.67% return against a regime average of +0.10%.
Related Days
Days with similar flow patterns and market conditions.
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