BTC Flow Analysis — March 22, 2021 CHOP
Monday · Minute-level BTC order flow from Binance · 1,927,345 trades
Summary
On Monday, March 22, 2021, Bitcoin dropped 5.7% in a sharp selloff to $54,083. Net flow: -1,084 BTC — sellers had the edge.
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: 33 bars with trade sizes 3σ+ above normal (peak: 10.7σ) between 00:33–23:17 UTC. Whale flow netted 1,377 BTC of buying.
A volatile day: 8.3% range from $53,650 to $58,431. Wide ranges like this create opportunities but also traps for directional traders.
Price followed flow faithfully (correlation: 0.91). 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
Strip out US and the day would look flat. That session alone contributed 71% of the net flow (1,089 BTC selling).
Across sessions: Asia +0.39%, Europe -1.05%, US -5.07% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.39% | -218 BTC | 14% |
| Europe | 08:00 - 14:00 | -1.05% | 223 BTC | 15% |
| US | 14:00 - 00:00 | -5.07% | -1089 BTC | 71% |
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 chop-regime standards, -5.70% was extreme — -2.5σ from the +0.10% average. This wasn't a normal chop day.
The selling streak extended to 9 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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