BTC perpetual futures taker buy/sell volume split by individual trade size in USD (under 10K, 10K-100K, 100K-1M, 1M+), reconstructed from Binance's raw trade tape. This buckets by TRADE size, not wallet balance — it is not the same as the on-chain "whale" definition used elsewhere on this site.

Large trades are typically institutional or market-maker flow; small trades are typically retail. Size Cohort Divergence (large trades' buy ratio minus small trades' buy ratio) turns positive when large trades are more bid-aggressive than small trades — often the setup ahead of a move retail ends up on the wrong side of.