BTC Flow Analysis — March 23, 2022 BULL
Wednesday · Minute-level BTC order flow from Binance · 916,671 trades
Summary
Bitcoin ground out a +1.22% gain on Wednesday, March 23, 2022, closing at $42,883 as sellers controlled aggregate flow with 406 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
Sustained large-player selling throughout the day. 18 bars with trade sizes 3σ+ above normal (peak: 6.5σ), spread across 01:58–19:29 UTC. The 222 BTC of whale flow reinforced the day's selling bias.
Flow reversed midday. The first 12 hours belonged to sellers (-860 BTC), but buyers erased that and then some (+454 BTC) in the back half.
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
Asia traders set the tone. 63% of directional flow — 918 BTC of selling — came from that single session.
Session returns: Asia -0.61%, Europe -0.21%, US +2.05%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.61% | -918 BTC | 63% |
| Europe | 08:00 - 14:00 | -0.21% | -18 BTC | 1% |
| US | 14:00 - 00:00 | 2.05% | 530 BTC | 36% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This was near the start of a bull regime (day 2), with the chop regime barely in the rearview mirror.
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