BTC Flow Analysis — February 28, 2022 BULL
Monday · Minute-level BTC order flow from Binance · 1,931,087 trades
Summary
February 28, 2022: Bitcoin ripped +14.5% to the upside. The 3,142 BTC of net buying flow at $43,160 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
26 bars of outsized trades (peak 5.5σ) appeared between 00:23–20:59 UTC, with whale flow netting 407 BTC of selling.
Most of the action happened during US hours, which accounted for 86% of the day's net flow (3,782 BTC buying). The rest of the day was a footnote.
A volatile day: 18.0% range from $37,450 to $44,226. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.97). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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
A tale of two halves — sellers pushed 184 BTC through the morning, then buyers flipped the script with 3,326 BTC in the afternoon.
Breaking it down by session: Asia +1.72%, Europe -0.90%, US +13.57%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.72% | -95 BTC | 2% |
| Europe | 08:00 - 14:00 | -0.90% | -544 BTC | 12% |
| US | 14:00 - 00:00 | 13.57% | 3782 BTC | 86% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Even by bull-regime standards, +14.49% was extreme — +5.1σ from the +0.34% average. This wasn't a normal bull day.
Day 1 of a fresh bull regime. The market had just flipped from chop, and the new character was still establishing itself.
A +1.9σ day — buying pressure exceeded the typical bull-regime flow (-386 BTC) by a notable margin.
Related Days
Days with similar flow patterns and market conditions.
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