BTC Flow Analysis — September 06, 2022 BEAR
Tuesday · Minute-level BTC order flow from Binance · 7,124,384 trades
Summary
On Tuesday, September 06, 2022, Bitcoin dropped 5.1% in a sharp selloff to $18,791. Net flow: -4,751 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. 25 bars with trade sizes 3σ+ above normal (peak: 6.7σ), spread across 00:52–23:56 UTC. The 785 BTC of whale flow reinforced the day's selling bias.
Day 6 of unbroken net selling. The market had a directional lean and wasn't letting go.
Price followed flow faithfully (correlation: 0.99). 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
Strip out US and the day would look flat. That session alone contributed 81% of the net flow (5,487 BTC selling).
Morning and afternoon traded like two different markets. Buyers led early (+1,247 BTC), sellers dominated late (-5,998 BTC).
Across sessions: Asia +0.56%, Europe -0.63%, US -5.01% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.56% | 1017 BTC | 15% |
| Europe | 08:00 - 14:00 | -0.63% | -281 BTC | 4% |
| US | 14:00 - 00:00 | -5.01% | -5487 BTC | 81% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bear regime was running out of road — 3 day(s) before the market shifted to chop. The transition was already underway in hindsight.
A -1.8σ day — selling pressure exceeded the typical bear-regime flow (-1,189 BTC) by a notable margin.
Trading activity surged to +2.4σ above the regime norm (356,315 BTC). When volume spikes like this, the flow data carries more weight.
Related Days
Days with similar flow patterns and market conditions.
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