BTC Flow Analysis — December 21, 2021 BEAR
Tuesday · Minute-level BTC order flow from Binance · 1,119,412 trades
Summary
December 21, 2021: Bitcoin climbed +4.2%. The 999 BTC of net buying flow at $48,890 told a clear story — buyers were in charge.
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. 16 bars of outsized trades (5.2σ peak) from 00:21–18:50 UTC, adding 6 BTC of buying pressure on top of the broader buying flow.
A clean, flow-driven day. The 0.94 correlation between cumulative flow and price means buying 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
Most of the action happened during Asia hours, which accounted for 64% of the day's net flow (636 BTC buying). The rest of the day was a footnote.
Breaking it down by session: Asia +3.55%, Europe +0.68%, US -0.04%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 3.55% | 636 BTC | 64% |
| Europe | 08:00 - 14:00 | 0.68% | 164 BTC | 16% |
| US | 14:00 - 00:00 | -0.04% | 199 BTC | 20% |
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 +4.21% return was consistent with the period's average of -0.27%.
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