BTC Flow Analysis — May 20, 2024 BULL
Monday · Minute-level BTC order flow from Binance · 1,930,939 trades
Summary
Bitcoin ripped +7.8% to the upside on Monday, May 20, 2024, closing at $71,447 as buyers controlled aggregate flow with 2,768 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
Large-player activity detected: 20 bars with trade sizes 3σ+ above normal (peak: 7.7σ) between 00:38–22:15 UTC. Whale flow netted 199 BTC of selling.
Flow reversed midday. The first 12 hours belonged to sellers (-291 BTC), but buyers erased that and then some (+3,059 BTC) in the back half.
A volatile day: 8.2% range from $66,060 to $71,516. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.90). 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
US traders set the tone. 87% of directional flow — 2,967 BTC of buying — came from that single session.
Session returns: Asia +0.83%, Europe +0.41%, US +6.48%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.83% | 126 BTC | 4% |
| Europe | 08:00 - 14:00 | 0.41% | -324 BTC | 9% |
| US | 14:00 - 00:00 | 6.48% | 2967 BTC | 87% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Even by bull-regime standards, +7.80% was extreme — +2.7σ from the +0.34% average. This wasn't a normal bull day.
Day 1 of a fresh bull regime. The market had just flipped from chop, and the new character was still establishing itself.
A +1.6σ day — buying pressure exceeded the typical bull-regime flow (-386 BTC) by a notable margin.
Related Days
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