BTC Flow Analysis — February 08, 2022 CHOP
Tuesday · Minute-level BTC order flow from Binance · 1,653,350 trades
Summary
February 08, 2022: Bitcoin ground out a +0.46% gain. The 1,128 BTC of net buying flow at $44,043 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
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.45), but price still climbed +0.46%. The buying was passive — limit orders soaking up the supply.
The big players were active all day. 16 bars of outsized trades (8.1σ peak) from 00:52–21:50 UTC, adding 993 BTC of buying pressure on top of the broader buying flow.
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 Europe hours, which accounted for 83% of the day's net flow (1,376 BTC buying). The rest of the day was a footnote.
Breaking it down by session: Asia +2.32%, Europe -2.74%, US +0.96%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 2.32% | -262 BTC | 16% |
| Europe | 08:00 - 14:00 | -2.74% | 1376 BTC | 83% |
| US | 14:00 - 00:00 | 0.96% | 14 BTC | 1% |
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 chop-regime day. The +0.46% return was consistent with the period's average of +0.10%.
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