BTC Flow Analysis — September 21, 2021 BEAR
Tuesday · Minute-level BTC order flow from Binance · 1,820,721 trades
Summary
Bitcoin crashed -5.3% on Tuesday, September 21, 2021, closing at $40,734 as sellers controlled aggregate flow with 6,649 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
The big players were active all day. 31 bars of outsized trades (10.4σ peak) from 00:40–23:46 UTC, adding 614 BTC of selling pressure on top of the broader selling flow.
This was day 16 of consecutive net selling. Multi-day streaks reflect sustained conviction, not noise.
From $39,600 to $43,639 — a 9.4% range that forced both bulls and bears to respect the volatility.
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
Session returns: Asia +0.66%, Europe -0.39%, US -5.56%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.66% | -3475 BTC | 52% |
| Europe | 08:00 - 14:00 | -0.39% | -417 BTC | 6% |
| US | 14:00 - 00:00 | -5.56% | -2756 BTC | 41% |
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 heaviest selling days in this bear regime. Net flow of -6,649 BTC placed this day at -2.5σ from the regime mean.
This was near the start of a bear regime (day 2), with the chop regime barely in the rearview mirror.
Related Days
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