Looking at events of the past two years, long-term holders sold significantly over a seven days period on four different occasions. The four events are:

The highest sell-off occurred after Russia invaded Ukraine. During this period, long-term holders sold off 410,000 BTC.

Other massive sell-off events happened during the 2021 bull run when long-term holders sold 375,000 BTC and during China’s ban on bitcoin mining when they sold 367,000 BTC.

The fourth-highest sell-off event since the COVID pandemic was after the FTX collapse in November. According to the chart, BTC’s revived supply during that week was 280,000 coins–Chainalysis reported that realized losses touched $9 billion, the fourth highest of 2022.