BTC Flow Analysis — September 17, 2021 CHOP
Friday · Minute-level BTC order flow from Binance · 1,033,968 trades
Summary
Bitcoin closed at $47,300 on September 17, 2021 after slipped 0.92%. Aggressor-side flow netted -1,263 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
Sustained large-player selling throughout the day. 30 bars with trade sizes 3σ+ above normal (peak: 9.5σ), spread across 00:30–22:57 UTC. The 111 BTC of whale flow reinforced the day's selling bias.
A clean, flow-driven day. The 0.89 correlation between cumulative flow and price means selling pressure was the dominant force — no hidden passive flow muddying the signal.
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 Europe session posted the largest move. Full breakdown: Asia -0.04%, Europe -1.00%, US +0.13%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.04% | -32 BTC | 3% |
| Europe | 08:00 - 14:00 | -1.00% | -562 BTC | 44% |
| US | 14:00 - 00:00 | 0.13% | -669 BTC | 53% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the chop regime was ending. BEAR conditions were 2 day(s) away.
The selling streak extended to 12 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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