BTC Flow Analysis — February 20, 2022 CHOP
Sunday · Minute-level BTC order flow from Binance · 811,235 trades
Summary
Bitcoin lost 4.2% on Sunday, February 20, 2022, closing at $38,387 as sellers controlled aggregate flow with 2,763 BTC of net pressure.
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. 21 bars of outsized trades (9.9σ peak) from 00:10–23:43 UTC, adding 224 BTC of selling pressure on top of the broader selling flow.
Net selling for 5 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
Price followed flow faithfully (correlation: 0.97). 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
Session returns: Asia -3.20%, Europe -1.53%, US +0.48%. Asia led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -3.20% | -1492 BTC | 54% |
| Europe | 08:00 - 14:00 | -1.53% | -1177 BTC | 43% |
| US | 14:00 - 00:00 | 0.48% | -93 BTC | 3% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A -1.8σ day — selling pressure exceeded the typical chop-regime flow (-670 BTC) by a notable margin.
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