BTC Flow Analysis — April 29, 2022 BEAR
Friday · Minute-level BTC order flow from Binance · 1,101,140 trades
Summary
April 29, 2022: Bitcoin sold off -2.9%. The 1,906 BTC of net selling flow at $38,596 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
The big players were active all day. 30 bars of outsized trades (11.6σ peak) from 02:11–21:27 UTC, adding 701 BTC of selling pressure on top of the broader selling flow.
Most of the action happened during US hours, which accounted for 67% of the day's net flow (1,277 BTC selling). The rest of the day was a footnote.
Flow and price moved in lockstep (correlation: 0.93). Aggressor-side selling translated directly into price movement with minimal resistance.
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 -0.33%, Europe -0.84%, US -1.73%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.33% | -51 BTC | 3% |
| Europe | 08:00 - 14:00 | -0.84% | -579 BTC | 30% |
| US | 14:00 - 00:00 | -1.73% | -1277 BTC | 67% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Nothing unusual for a bear-regime day. The -2.88% return was consistent with the period's average of -0.27%.
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