BTC Flow Analysis — April 18, 2021 CHOP
Sunday · Minute-level BTC order flow from Binance · 3,444,089 trades
Summary
April 18, 2021: Bitcoin crashed -6.4%. The 6,073 BTC of net selling flow at $56,150 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. 14 bars of outsized trades (6.7σ peak) from 01:09–15:36 UTC, adding 282 BTC of selling pressure on top of the broader selling flow.
This was day 5 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
The 15.9% intraday range ($50,931 – $60,499) tells the story of a market in flux. Both sides had their moments.
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
Breaking it down by session: Asia -6.38%, Europe -1.81%, US +1.78%. Asia stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -6.38% | -3072 BTC | 51% |
| Europe | 08:00 - 14:00 | -1.81% | -702 BTC | 12% |
| US | 14:00 - 00:00 | 1.78% | -2298 BTC | 38% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Net selling hit 6,073 BTC, landing -4.0σ outside the chop-regime norm. Days with this level of one-sided flow have historically marked inflection points within the regime.
At -2.8σ from the regime mean, this -6.43% move was an outlier within the chop period (avg +0.10%).
The market was 1 day(s) into a new chop regime, having transitioned from bull. Early-regime days often carry residual momentum from the prior period.
Related Days
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