BTC Flow Analysis — January 20, 2022 BEAR
Thursday · Minute-level BTC order flow from Binance · 1,098,761 trades
Summary
Bitcoin fell 2.4% on Thursday, January 20, 2022, closing at $40,681 as sellers controlled aggregate flow with 1,927 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
Sustained large-player selling throughout the day. 44 bars with trade sizes 3σ+ above normal (peak: 11.8σ), spread across 00:46–23:48 UTC. The 186 BTC of whale flow reinforced the day's selling bias.
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 0.93 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
US traders set the tone. 78% of directional flow — 1,967 BTC of selling — came from that single session.
Session returns: Asia +0.96%, Europe +0.75%, US -4.00%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.96% | -266 BTC | 10% |
| Europe | 08:00 - 14:00 | 0.75% | 305 BTC | 12% |
| US | 14:00 - 00:00 | -4.00% | -1967 BTC | 78% |
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 -2.35% return was consistent with the period's average of -0.27%.
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