BTC Flow Analysis — July 21, 2021 BEAR
Wednesday · Minute-level BTC order flow from Binance · 1,415,058 trades
Summary
On Wednesday, July 21, 2021, Bitcoin ripped +7.9% to the upside to $32,145. Net flow: +2,373 BTC — buyers 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. 26 bars of outsized trades (8.3σ peak) from 00:22–23:15 UTC, adding 199 BTC of buying pressure on top of the broader buying flow.
A volatile day: 11.3% range from $29,483 to $32,858. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.95). 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 +3.45%, Europe +2.21%, US +2.05% — with Asia doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 3.45% | 659 BTC | 28% |
| Europe | 08:00 - 14:00 | 2.21% | 1258 BTC | 53% |
| US | 14:00 - 00:00 | 2.05% | 457 BTC | 19% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Even by bear-regime standards, +7.90% was extreme — +2.2σ from the -0.27% average. This wasn't a normal bear day.
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