BTC Flow Analysis — April 23, 2021 CHOP
Friday · Minute-level BTC order flow from Binance · 2,888,237 trades
Summary
Bitcoin closed at $51,125 on April 23, 2021 after slipped 1.09%. Aggressor-side flow netted -4,692 BTC, favoring sellers.
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
29 bars of outsized trades (peak 7.6σ) appeared between 00:13–21:48 UTC, with whale flow netting 224 BTC of buying.
This was day 10 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
A volatile day: 9.0% range from $47,500 to $52,132. Wide ranges like this create opportunities but also traps for directional traders.
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
The Asia session posted the largest move. Full breakdown: Asia -7.25%, Europe +2.49%, US +4.06%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -7.25% | -2486 BTC | 53% |
| Europe | 08:00 - 14:00 | 2.49% | -51 BTC | 1% |
| US | 14:00 - 00:00 | 4.06% | -2154 BTC | 46% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
At -3.1σ from the chop-regime average, this was one of the most intense selling days in the period — 4,692 BTC of net pressure overwhelmed the typical flow pattern.
The chop regime was running out of road — 1 day(s) before the market shifted to bear. The transition was already underway in hindsight.
Related Days
Days with similar flow patterns and market conditions.
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