BTC Flow Analysis — March 20, 2024 BULL
Wednesday · Minute-level BTC order flow from Binance · 3,549,793 trades
Summary
March 20, 2024: Bitcoin surged +9.5%. The 627 BTC of net buying flow at $67,841 told a clear story — buyers 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. 12 bars of outsized trades (5.9σ peak) from 00:12–21:24 UTC, adding 789 BTC of buying pressure on top of the broader buying flow.
The 11.8% intraday range ($60,775 – $68,100) tells the story of a market in flux. Both sides had their moments.
Flow and price moved in lockstep (correlation: 0.84). Aggressor-side buying 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
A tale of two halves — sellers pushed 769 BTC through the morning, then buyers flipped the script with 1,396 BTC in the afternoon.
Breaking it down by session: Asia +1.65%, Europe +1.03%, US +6.65%. US stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | 1.65% | -766 BTC | 35% |
| Europe | 08:00 - 14:00 | 1.03% | 104 BTC | 5% |
| US | 14:00 - 00:00 | 6.65% | 1289 BTC | 60% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
At +3.3σ from the regime mean, this +9.53% move was an outlier within the bull period (avg +0.34%).
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