BTC Flow Analysis — February 18, 2022 CHOP
Friday · Minute-level BTC order flow from Binance · 1,025,882 trades
Summary
February 18, 2022: Bitcoin gave back 1.34%. The 2,628 BTC of net selling flow at $39,974 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. 11 bars with trade sizes 3σ+ above normal (peak: 5.2σ), spread across 00:20–21:50 UTC. The 62 BTC of whale flow reinforced the day's selling bias.
Price followed flow faithfully (correlation: 0.87). 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
Breaking it down by session: Asia +0.37%, Europe -0.68%, US -1.02%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.37% | -762 BTC | 29% |
| Europe | 08:00 - 14:00 | -0.68% | -796 BTC | 30% |
| US | 14:00 - 00:00 | -1.02% | -1069 BTC | 41% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A -1.7σ day — selling pressure exceeded the typical chop-regime flow (-670 BTC) by a notable margin.
The selling streak extended to 3 days. Streaks this long suggest a structural flow, not just intraday traders flipping positions.
Related Days
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