BTC Flow Analysis — September 28, 2021 BEAR
Tuesday · Minute-level BTC order flow from Binance · 1,045,389 trades
Summary
Bitcoin fell 2.7% on Tuesday, September 28, 2021, closing at $41,027 as sellers controlled aggregate flow with 1,952 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
13 bars of outsized trades (peak 11.5σ) appeared between 00:20–22:34 UTC, with whale flow netting 9 BTC of buying.
Net selling for 5 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
A clean, flow-driven day. The 0.87 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
Session returns: Asia -0.88%, Europe +0.53%, US -2.32%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.88% | -804 BTC | 41% |
| Europe | 08:00 - 14:00 | 0.53% | -508 BTC | 26% |
| US | 14:00 - 00:00 | -2.32% | -640 BTC | 33% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a bear-regime day. The -2.66% return was consistent with the period's average of -0.27%.
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