Thursday · Minute-level BTC order flow from Binance · 1,290,541 trades
On Thursday, March 31, 2022, Bitcoin lost 3.3% to $45,510. Net flow: -2,886 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).
The big players were active all day. 26 bars of outsized trades (8.8σ peak) from 00:13–22:39 UTC, adding 515 BTC of selling pressure on top of the broader selling flow.
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.
Strip out US and the day would look flat. That session alone contributed 69% of the net flow (1,986 BTC selling).
Across sessions: Asia +0.20%, Europe -0.53%, US -2.99% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.20% | -200 BTC | 7% |
| Europe | 08:00 - 14:00 | -0.53% | -700 BTC | 24% |
| US | 14:00 - 00:00 | -2.99% | -1986 BTC | 69% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
A -1.7σ day — selling pressure exceeded the typical bull-regime flow (-386 BTC) by a notable margin.
Days with similar flow patterns and market conditions.
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