BTC Flow Analysis — April 21, 2023 CHOP
Friday · Minute-level BTC order flow from Binance · 1,463,628 trades
Summary
Bitcoin closed at $27,263 on April 21, 2023 after sold off 3.5%. Aggressor-side flow netted -846 BTC, favoring sellers.
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
Large-player activity detected: 24 bars with trade sizes 3σ+ above normal (peak: 8.9σ) between 03:01–20:59 UTC. Whale flow netted 104 BTC of buying.
Day 3 of unbroken net selling. The market had a directional lean and wasn't letting go.
Flow and price moved in lockstep (correlation: 0.82). Aggressor-side selling translated directly into price movement with minimal resistance.
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
The US session posted the largest move. Full breakdown: Asia -0.31%, Europe -0.15%, US -3.03%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.31% | -303 BTC | 36% |
| Europe | 08:00 - 14:00 | -0.15% | -96 BTC | 11% |
| US | 14:00 - 00:00 | -3.03% | -447 BTC | 53% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a chop-regime day. The -3.47% return was consistent with the period's average of +0.10%.
Related Days
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