Russia’s Ukraine invasion led to Bitcoin’s highest sell-off in the past 2 years

According to data from Glassnode, 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.