BTC Flow Analysis — November 11, 2021 BULL
Thursday · Minute-level BTC order flow from Binance · 1,327,827 trades
Summary
November 11, 2021: Bitcoin traded flat. The 59 BTC of net selling flow at $64,774 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
Large players were on the wrong side — or the patient side. 15 bars of outsized trade sizes (peak 6.2σ) showed net buying, but price moved against them. Either they were accumulating into weakness or got caught.
A disconnect between flow and price (correlation: -0.47). Neither buyers nor sellers could convert aggressor-side pressure into directional movement.
This was day 3 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
A tale of two halves — sellers pushed 563 BTC through the morning, then buyers flipped the script with 504 BTC in the afternoon.
Breaking it down by session: Asia +0.53%, Europe -0.74%, US +0.04%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.53% | 78 BTC | 8% |
| Europe | 08:00 - 14:00 | -0.74% | -545 BTC | 53% |
| US | 14:00 - 00:00 | 0.04% | 408 BTC | 40% |
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 bull regime was ending. CHOP conditions were 2 day(s) away.
Related Days
Days with similar flow patterns and market conditions.
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