BTC Flow Analysis — May 01, 2024 BEAR
Wednesday · Minute-level BTC order flow from Binance · 2,401,089 trades
Summary
May 01, 2024: Bitcoin sold off -3.8%. The 4,759 BTC of net selling flow at $58,365 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. 20 bars of outsized trades (8.3σ peak) from 02:12–23:56 UTC, adding 235 BTC of selling pressure on top of the broader selling flow.
Flow and price moved in lockstep (correlation: 0.91). 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
Most of the action happened during Asia hours, which accounted for 65% of the day's net flow (3,086 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia -5.23%, Europe -0.35%, US +1.86%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -5.23% | -3086 BTC | 65% |
| Europe | 08:00 - 14:00 | -0.35% | -444 BTC | 9% |
| US | 14:00 - 00:00 | 1.86% | -1229 BTC | 26% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This was near the start of a bear regime (day 2), with the chop regime barely in the rearview mirror.
Net flow of -4,759 BTC was elevated at -1.8σ vs the bear-regime average of -1,189 BTC.
The selling streak extended to 5 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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