BTC Flow Analysis — May 28, 2021 BEAR
Friday · Minute-level BTC order flow from Binance · 2,659,178 trades
Summary
On Friday, May 28, 2021, Bitcoin dropped 7.4% in a sharp selloff to $35,663. Net flow: -6,723 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. 40 bars of outsized trades (10.2σ peak) from 00:59–22:24 UTC, adding 54 BTC of selling pressure on top of the broader selling flow.
Net selling for 4 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A volatile day: 10.9% range from $34,684 to $38,878. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.87). 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
Across sessions: Asia -4.03%, Europe -0.14%, US -3.41% — with Asia doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -4.03% | -2026 BTC | 30% |
| Europe | 08:00 - 14:00 | -0.14% | -2862 BTC | 43% |
| US | 14:00 - 00:00 | -3.41% | -1835 BTC | 27% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
At -2.6σ from the bear-regime average, this was one of the most intense selling days in the period — 6,723 BTC of net pressure overwhelmed the typical flow pattern.
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