BTC Flow Analysis — April 17, 2021 BULL
Saturday · Minute-level BTC order flow from Binance · 2,268,816 trades
Summary
April 17, 2021: Bitcoin lost 2.2%. The 2,140 BTC of net selling flow at $60,007 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. 14 bars of outsized trades (10.0σ peak) from 01:00–22:23 UTC, adding 428 BTC of selling pressure on top of the broader selling flow.
Day 4 of unbroken net selling. The market had a directional lean and wasn't letting go.
Price followed flow faithfully (correlation: 0.85). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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 +1.27%, Europe -1.75%, US -1.67%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.27% | -67 BTC | 3% |
| Europe | 08:00 - 14:00 | -1.75% | -841 BTC | 39% |
| US | 14:00 - 00:00 | -1.67% | -1232 BTC | 58% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bull regime was running out of road — 0 day(s) before the market shifted to chop. The transition was already underway in hindsight.
Related Days
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