BTC Flow Analysis — November 21, 2023 BULL
Tuesday · Minute-level BTC order flow from Binance · 1,936,895 trades
Summary
Bitcoin closed at $35,742 on November 21, 2023 after sold off 4.6%. Aggressor-side flow netted -2,904 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
Sustained large-player selling throughout the day. 28 bars with trade sizes 3σ+ above normal (peak: 6.6σ), spread across 00:24–23:30 UTC. The 332 BTC of whale flow reinforced the day's selling bias.
This was day 6 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
Flow and price moved in lockstep (correlation: 0.89). 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 drove 61% of the day's directional flow, with 1,771 BTC of net selling. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia -0.45%, Europe -0.72%, US -3.43%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.45% | -518 BTC | 18% |
| Europe | 08:00 - 14:00 | -0.72% | -614 BTC | 21% |
| US | 14:00 - 00:00 | -3.43% | -1771 BTC | 61% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the final days of this bull period. Within 1 day(s), the market would flip to chop.
Net flow of -2,904 BTC was elevated at -1.7σ vs the bull-regime average of -386 BTC.
Related Days
Days with similar flow patterns and market conditions.
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