BTC Flow Analysis — February 02, 2022 BEAR
Wednesday · Minute-level BTC order flow from Binance · 907,905 trades
Summary
February 02, 2022: Bitcoin lost 4.6%. The 1,292 BTC of net selling flow at $36,896 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
Sustained large-player selling throughout the day. 25 bars with trade sizes 3σ+ above normal (peak: 8.6σ), spread across 00:16–18:51 UTC. The 75 BTC of whale flow reinforced the day's selling bias.
Most of the action happened during US hours, which accounted for 92% of the day's net flow (1,422 BTC selling). The rest of the day was a footnote.
Price followed flow faithfully (correlation: 0.94). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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 — buyers pushed 48 BTC through the morning, then sellers flipped the script with 1,339 BTC in the afternoon.
Breaking it down by session: Asia -1.06%, Europe +0.21%, US -3.82%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.06% | 25 BTC | 2% |
| Europe | 08:00 - 14:00 | 0.21% | 105 BTC | 7% |
| US | 14:00 - 00:00 | -3.82% | -1422 BTC | 92% |
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 — 1 day(s) before the market shifted to chop. The transition was already underway in hindsight.
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