BTC Flow Analysis — August 18, 2022 BULL
Thursday · Minute-level BTC order flow from Binance · 6,029,662 trades
Summary
August 18, 2022: Bitcoin slipped 0.65%. The 458 BTC of net selling flow at $23,191 told a clear story — sellers 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
The big players were active all day. 22 bars of outsized trades (5.9σ peak) from 06:03–23:22 UTC, adding 488 BTC of selling pressure on top of the broader selling flow.
Most of the action happened during US hours, which accounted for 65% of the day's net flow (1,006 BTC selling). The rest of the day was a footnote.
A clean, flow-driven day. The 0.86 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
A tale of two halves — buyers pushed 753 BTC through the morning, then sellers flipped the script with 1,211 BTC in the afternoon.
Breaking it down by session: Asia +0.31%, Europe +0.15%, US -1.10%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.31% | 150 BTC | 10% |
| Europe | 08:00 - 14:00 | 0.15% | 398 BTC | 26% |
| US | 14:00 - 00:00 | -1.10% | -1006 BTC | 65% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the bull regime was ending. CHOP conditions were 3 day(s) away.
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