BTC Flow Analysis — May 06, 2021 BEAR
Thursday · Minute-level BTC order flow from Binance · 2,459,881 trades
Summary
Bitcoin slipped 1.81% on Thursday, May 06, 2021, closing at $56,394 as sellers controlled aggregate flow with 1,684 BTC of net pressure.
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
19 bars of outsized trades (peak 10.2σ) appeared between 00:32–22:46 UTC, with whale flow netting 127 BTC of buying.
Flow reversed midday. The first 12 hours belonged to buyers (+443 BTC), but sellers erased that and then some (-2,127 BTC) in the back half.
A clean, flow-driven day. The 0.83 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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
US traders set the tone. 65% of directional flow — 2,025 BTC of selling — came from that single session.
Session returns: Asia -1.08%, Europe +0.80%, US -1.53%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.08% | -378 BTC | 12% |
| Europe | 08:00 - 14:00 | 0.80% | 720 BTC | 23% |
| US | 14:00 - 00:00 | -1.53% | -2025 BTC | 65% |
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 bear regime was ending. CHOP conditions were 2 day(s) away.
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