Monday · Minute-level BTC order flow from Binance · 1,380,410 trades
May 30, 2022: Bitcoin exploded +7.7% higher. The 6,737 BTC of net selling flow at $31,734 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).
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.71), but price still climbed +7.69%. The buying was passive — limit orders soaking up the supply.
The big players were active all day. 32 bars of outsized trades (11.5σ peak) from 00:11–23:59 UTC, adding 8,555 BTC of selling pressure on top of the broader selling flow.
Most of the action happened during US hours, which accounted for 92% of the day's net flow (7,245 BTC selling). The rest of the day was a footnote.
From $29,300 to $32,222 — a 9.9% range that forced both bulls and bears to respect the volatility.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
Breaking it down by session: Asia +3.96%, Europe -0.38%, US +3.98%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 3.96% | 562 BTC | 7% |
| Europe | 08:00 - 14:00 | -0.38% | -54 BTC | 1% |
| US | 14:00 - 00:00 | 3.98% | -7245 BTC | 92% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Among the heaviest selling days in this bear regime. Net flow of -6,737 BTC placed this day at -2.6σ from the regime mean.
A statistical outlier: +7.69% return sits at +2.2σ from the bear-regime average of -0.27%. Days like this are rare within this regime.
Days with similar flow patterns and market conditions.
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