BTC Flow Analysis — September 11, 2021 CHOP
Saturday · Minute-level BTC order flow from Binance · 1,060,890 trades
Summary
Bitcoin ground out a +0.74% gain on Saturday, September 11, 2021, closing at $45,174 as sellers controlled aggregate flow with 832 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
The big players were active all day. 23 bars of outsized trades (7.1σ peak) from 01:49–22:32 UTC, adding 94 BTC of selling pressure on top of the broader selling flow.
Flow reversed midday. The first 12 hours belonged to buyers (+438 BTC), but sellers erased that and then some (-1,270 BTC) in the back half.
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. 64% of directional flow — 1,290 BTC of selling — came from that single session.
Session returns: Asia +0.45%, Europe +1.28%, US -0.98%. Europe led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.45% | 598 BTC | 29% |
| Europe | 08:00 - 14:00 | 1.28% | -140 BTC | 7% |
| US | 14:00 - 00:00 | -0.98% | -1290 BTC | 64% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The selling streak extended to 6 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
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