The recent trend in Bitcoin’s price has sparked renewed activity among long-dormant whales. CryptoQuant analyst J.A. Maartunn revealed that a Bitcoin whale, inactive for over seven years, has suddenly made a move. This development coincides with Bitcoin’s price continuing its decline below the $70,000 mark.
Bitcoin Whale Linked to Cumberland
The analyst reported that this previously inactive whale transferred 2,043 Bitcoins to an unknown wallet. Notably, this stash was originally acquired on February 19, 2019.
Initially, the wallet held around 39,000 Bitcoins which were obtained from Cumberland via their OTC trading desk.
Further insights from data provider Sani indicate that two significant transfers—one of approximately 2,113.87 BTC from seven years ago and another of about 757.79 BTC from two years ago—both originated from Cumberland. The owner consolidated these amounts along with smaller transactions into two new addresses during the same transaction.
“It's 2113.87480015 BTC dating back seven years plus an additional 757.78748172 BTC from two years ago; both came through Cumberland and were merged in one transaction alongside other minor UTXOs into two fresh addresses”
— Sani | TimechainIndex.com (@SaniExp) February 10, 2026
Dormant Bitcoin whales often reappear either during market downturns or rallies. This particular resurgence happened as Bitcoin’s value dropped more than 11.7% over the past week to reach $69,048.
Could a Sell-Off Be Imminent?
This recent transfer has ignited speculation about potential sell-offs by large holders of Bitcoin despite the destination address remaining undisclosed.
Bitcoin has faced significant selling pressure lately with miners and major ETF issuers offloading their holdings extensively. As previously reported by U.Today, BlackRock—the largest ETF issuer—has sold billions worth of Bitcoin since early this year.
Despite these sell-offs dampening overall sentiment in the market, a focused accumulation effort by some dedicated investors is helping stabilize prices currently. This week alone saw Michael Saylor’s Strategy increase its holdings further, bumping its total stash up to 713, 502 Bitcoins.