Monday · Minute-level BTC order flow from Binance · 1,399,599 trades
On Monday, December 13, 2021, Bitcoin crashed -6.7% to $46,703. Net flow: -3,895 BTC — sellers had the edge.
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).
The big players were active all day. 18 bars of outsized trades (9.3σ peak) from 00:21–23:12 UTC, adding 563 BTC of selling pressure on top of the broader selling flow.
The 9.0% intraday range ($45,673 – $50,190) tells the story of a market in flux. Both sides had their moments.
Flow and price moved in lockstep (correlation: 0.94). Aggressor-side selling translated directly into price movement with minimal resistance.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
Strip out US and the day would look flat. That session alone contributed 76% of the net flow (2,966 BTC selling).
Across sessions: Asia -2.62%, Europe -0.65%, US -3.55% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -2.62% | -600 BTC | 15% |
| Europe | 08:00 - 14:00 | -0.65% | -329 BTC | 8% |
| US | 14:00 - 00:00 | -3.55% | -2966 BTC | 76% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Market conditions were bear — and this day didn't deviate. A -6.70% return against a regime average of -0.27%.
Days with similar flow patterns and market conditions.
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