BTC Flow Analysis — May 20, 2022 BEAR
Friday · Minute-level BTC order flow from Binance · 1,694,004 trades
Summary
Bitcoin sold off -3.7% on Friday, May 20, 2022, closing at $29,201 as buyers controlled aggregate flow with 1,264 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
Flow-price divergence: aggressive buying met a wall. Despite bid-side pressure, price dropped -3.69% (correlation: -0.42). The sellers were patient, the buyers were not.
Sustained large-player buying throughout the day. 32 bars with trade sizes 3σ+ above normal (peak: 12.2σ), spread across 00:36–22:34 UTC. The 453 BTC of whale flow reinforced the day's buying bias.
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. 68% of directional flow — 860 BTC of buying — came from that single session.
Session returns: Asia -0.21%, Europe +0.35%, US -3.83%. US led the move.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.21% | 860 BTC | 68% |
| Europe | 08:00 - 14:00 | 0.35% | 296 BTC | 23% |
| US | 14:00 - 00:00 | -3.83% | 108 BTC | 9% |
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 -3.69% return was consistent with the period's average of -0.27%.
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