BTC Flow Analysis — July 04, 2021 CHOP
Sunday · Minute-level BTC order flow from Binance · 1,164,970 trades
Summary
Bitcoin edged higher (+1.78%) on Sunday, July 04, 2021, closing at $35,287 as sellers controlled aggregate flow with 1,343 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
Flow said sell, price said buy. The -0.60 correlation between cumulative flow and return tells the story: someone was absorbing the selling quietly while price rose +1.78%.
Sustained large-player selling throughout the day. 28 bars with trade sizes 3σ+ above normal (peak: 11.4σ), spread across 03:06–20:36 UTC. The 2,144 BTC of whale flow reinforced the day's selling bias.
Net selling for 7 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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
Europe traders set the tone. 76% of directional flow — 1,514 BTC of selling — came from that single session.
Session returns: Asia +2.69%, Europe -0.69%, US -0.21%. Asia led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 2.69% | -150 BTC | 8% |
| Europe | 08:00 - 14:00 | -0.69% | -1514 BTC | 76% |
| US | 14:00 - 00:00 | -0.21% | 321 BTC | 16% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This was near the start of a chop regime (day 1), with the bear regime barely in the rearview mirror.
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