BTC Flow Analysis — September 16, 2021 CHOP
Thursday · Minute-level BTC order flow from Binance · 1,176,129 trades
Summary
September 16, 2021: Bitcoin gave back 0.80%. The 910 BTC of net selling flow at $47,738 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. 11 bars with trade sizes 3σ+ above normal (peak: 8.0σ), spread across 02:56–18:03 UTC. The 90 BTC of whale flow reinforced the day's selling bias.
This was day 11 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
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
Most of the action happened during Europe hours, which accounted for 88% of the day's net flow (804 BTC selling). The rest of the day was a footnote.
Breaking it down by session: Asia +0.46%, Europe -1.84%, US +0.59%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.46% | 5 BTC | 0% |
| Europe | 08:00 - 14:00 | -1.84% | -804 BTC | 88% |
| US | 14:00 - 00:00 | 0.59% | -110 BTC | 12% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Among the final days of this chop period. Within 3 day(s), the market would flip to bear.
Related Days
Days with similar flow patterns and market conditions.
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