BTC Flow Analysis — November 21, 2022 BEAR
Monday · Minute-level BTC order flow from Binance · 7,440,871 trades
Summary
On Monday, November 21, 2022, Bitcoin lost 3.1% to $15,781. Net flow: -4,106 BTC — sellers had the edge.
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. 28 bars of outsized trades (7.4σ peak) from 01:58–23:04 UTC, adding 2,353 BTC of selling pressure on top of the broader selling flow.
Day 10 of unbroken net selling. The market had a directional lean and wasn't letting go.
Price followed flow faithfully (correlation: 0.93). When you see this level of alignment, it means one side is in control and the other isn't even fighting.
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
Strip out US and the day would look flat. That session alone contributed 68% of the net flow (2,785 BTC selling).
Across sessions: Asia -1.47%, Europe +0.84%, US -2.44% — with US doing the heavy lifting.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.47% | -1274 BTC | 31% |
| Europe | 08:00 - 14:00 | 0.84% | -47 BTC | 1% |
| US | 14:00 - 00:00 | -2.44% | -2785 BTC | 68% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
A -1.6σ day — selling pressure exceeded the typical bear-regime flow (-1,189 BTC) by a notable margin.
Trading activity surged to +2.1σ above the regime norm (324,097 BTC). When volume spikes like this, the flow data carries more weight.
Related Days
Days with similar flow patterns and market conditions.
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