BTC Flow Analysis — January 21, 2022 BEAR
Friday · Minute-level BTC order flow from Binance · 2,092,561 trades
Summary
On Friday, January 21, 2022, Bitcoin crashed -10.4% to $36,445. Net flow: -5,631 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
Large-player activity detected: 9 bars with trade sizes 3σ+ above normal (peak: 10.5σ) between 03:06–23:14 UTC. Whale flow netted 237 BTC of buying.
Day 6 of unbroken net selling. The market had a directional lean and wasn't letting go.
From $35,440 to $41,100 — a 13.9% range that forced both bulls and bears to respect the volatility.
Flow and price moved in lockstep (correlation: 0.97). 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.
Session Breakdown
Across sessions: Asia -3.80%, Europe -1.65%, US -5.31% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -3.80% | -2494 BTC | 44% |
| Europe | 08:00 - 14:00 | -1.65% | -738 BTC | 13% |
| US | 14:00 - 00:00 | -5.31% | -2399 BTC | 43% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
The 5,631 BTC of net selling was extreme by any measure (-2.1σ vs bear-regime average). The market's typical flow balance broke down.
Even by bear-regime standards, -10.41% was extreme — -2.8σ from the -0.27% average. This wasn't a normal bear day.
Related Days
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