BTC Flow Analysis — December 23, 2021 BEAR
Thursday · Minute-level BTC order flow from Binance · 1,176,050 trades
Summary
On Thursday, December 23, 2021, Bitcoin pushed +4.6% higher to $50,839. Net flow: -397 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).
Flow Analysis
The big players were active all day. 18 bars of outsized trades (6.9σ peak) from 00:18–23:57 UTC, adding 353 BTC of selling pressure on top of the broader selling flow.
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
Morning and afternoon traded like two different markets. Sellers led early (-715 BTC), buyers dominated late (+318 BTC).
Across sessions: Asia -0.94%, Europe +1.01%, US +4.57% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.94% | -663 BTC | 52% |
| Europe | 08:00 - 14:00 | 1.01% | -176 BTC | 14% |
| US | 14:00 - 00:00 | 4.57% | 442 BTC | 35% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The bear regime was running out of road — 2 day(s) before the market shifted to chop. The transition was already underway in hindsight.
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