BTC Flow Analysis — March 18, 2022 CHOP
Friday · Minute-level BTC order flow from Binance · 1,065,054 trades
Summary
On Friday, March 18, 2022, Bitcoin pushed +2.1% higher to $41,758. Net flow: -658 BTC — sellers had the edge.
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. 29 bars with trade sizes 3σ+ above normal (peak: 8.9σ), spread across 00:48–19:53 UTC. The 488 BTC of whale flow reinforced the day's selling bias.
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
Strip out Asia and the day would look flat. That session alone contributed 63% of the net flow (844 BTC selling).
Morning and afternoon traded like two different markets. Sellers led early (-1,103 BTC), buyers dominated late (+445 BTC).
Across sessions: Asia -0.85%, Europe +0.05%, US +2.87% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.85% | -844 BTC | 63% |
| Europe | 08:00 - 14:00 | 0.05% | -158 BTC | 12% |
| US | 14:00 - 00:00 | 2.87% | 344 BTC | 26% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The chop regime was running out of road — 3 day(s) before the market shifted to bull. The transition was already underway in hindsight.
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