BTC Flow Analysis — May 21, 2024 BULL
Tuesday · Minute-level BTC order flow from Binance · 2,137,448 trades
Summary
May 21, 2024: Bitcoin slipped 1.82%. The 235 BTC of net selling flow at $70,148 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
Sustained large-player selling throughout the day. 19 bars with trade sizes 3σ+ above normal (peak: 7.6σ), spread across 02:39–17:04 UTC. The 12 BTC of whale flow reinforced the day's selling bias.
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
A tale of two halves — buyers pushed 515 BTC through the morning, then sellers flipped the script with 750 BTC in the afternoon.
Breaking it down by session: Asia -0.80%, Europe -0.40%, US -0.63%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.80% | -120 BTC | 10% |
| Europe | 08:00 - 14:00 | -0.40% | 485 BTC | 40% |
| US | 14:00 - 00:00 | -0.63% | -599 BTC | 50% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 2 of a fresh bull regime. The market had just flipped from chop, and the new character was still establishing itself.
Related Days
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