BTC Flow Analysis — April 24, 2021 CHOP
Saturday · Minute-level BTC order flow from Binance · 1,164,985 trades
Summary
On Saturday, April 24, 2021, Bitcoin sold off -2.1% to $50,048. Net flow: -1,797 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
The big players were active all day. 28 bars of outsized trades (8.8σ peak) from 00:53–22:07 UTC, adding 58 BTC of selling pressure on top of the broader selling flow.
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
Strip out Europe and the day would look flat. That session alone contributed 92% of the net flow (1,650 BTC selling).
Across sessions: Asia -2.55%, Europe -0.49%, US +1.00% — with Asia doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -2.55% | -90 BTC | 5% |
| Europe | 08:00 - 14:00 | -0.49% | -1650 BTC | 92% |
| US | 14:00 - 00:00 | 1.00% | -57 BTC | 3% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the chop regime was ending. BEAR conditions were 0 day(s) away.
The selling streak extended to 11 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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