BTC Flow Analysis — May 19, 2024 CHOP
Sunday · Minute-level BTC order flow from Binance · 823,729 trades
Summary
Bitcoin slipped 0.96% on Sunday, May 19, 2024, closing at $66,274 as sellers controlled aggregate flow with 641 BTC of net pressure.
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
33 bars of outsized trades (peak 8.9σ) appeared between 01:14–19:47 UTC, with whale flow netting 145 BTC of buying.
Flow reversed midday. The first 12 hours belonged to buyers (+258 BTC), but sellers erased that and then some (-899 BTC) in the back half.
A clean, flow-driven day. The 0.92 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
US traders set the tone. 69% of directional flow — 724 BTC of selling — came from that single session.
Session returns: Asia +0.61%, Europe -0.41%, US -1.16%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.61% | 202 BTC | 19% |
| Europe | 08:00 - 14:00 | -0.41% | -119 BTC | 11% |
| US | 14:00 - 00:00 | -1.16% | -724 BTC | 69% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The chop regime was running out of road — 0 day(s) before the market shifted to bull. The transition was already underway in hindsight.
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