BTC Flow Analysis — April 13, 2022 CHOP
Wednesday · Minute-level BTC order flow from Binance · 948,061 trades
Summary
April 13, 2022: Bitcoin pushed +2.7% higher. The 297 BTC of net selling flow at $41,148 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
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.48), but price still climbed +2.68%. The buying was passive — limit orders soaking up the supply.
The big players were active all day. 24 bars of outsized trades (6.7σ peak) from 00:34–23:47 UTC, adding 635 BTC of selling pressure on top of the broader selling flow.
Net selling for 10 straight days. Whether it's institutional positioning or sentiment-driven, the directional bias was persistent.
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 — sellers pushed 328 BTC through the morning, then buyers flipped the script with 31 BTC in the afternoon.
Breaking it down by session: Asia +0.14%, Europe +0.98%, US +1.54%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 0.14% | 139 BTC | 24% |
| Europe | 08:00 - 14:00 | 0.98% | -344 BTC | 60% |
| US | 14:00 - 00:00 | 1.54% | -93 BTC | 16% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
This day sat within a chop regime. The +2.68% return tracked the regime average of +0.10%.
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