The current Bitcoin price outlook has triggered a resurgence of whales with more than a year in dormancy. According to new insights from CryptoQuant Analyst J.A. Maartunn, a Bitcoin whale that has been dormant for over seven years has reemerged. This comes as the BTC price has sustained its downtrend below the $70,000 level.
Bitcoin whale with Cumberland ties
According to the analyst, a dormant whale just moved 2,043 Bitcoin to an unknown location. As showcased, the whale bought the Bitcoin stash they are moving back on Feb. 19, 2019
In the early days, the wallet had 39,000 BTC, a stash it originally received from Cumberland through the OTC trading desk.
Providing more context to this wallet’s analysis, data service outlet Sani added that the wallet’s 2,113.87 from seven years ago and 757.787 from two years both came from Cumberland. The analyst said the wallet owner consolidated these assets in the same transaction with other minor transactions into two other addresses.
Bitcoin whales in dormancy are known to spring back to life either when the market is underperforming or outperforming. This current reemergence comes as the Bitcoin price has shed more than 11.7% in the trailing seven-day period to $69,048
Is Bitcoin at risk of a sell-off?
The current Bitcoin transfer has triggered a new conversation surrounding sell-offs. Even though the destination address is not specified, chances are high that the whale may be offloading.
Bitcoin has battled massive sell-offs in recent times as both miners and top ETF issuers dumped the coin. As reported earlier by U.Today, BlackRock, the biggest ETF issuer, has sold billions in Bitcoin since the start of the year.
Although the sell-offs appear to be overshadowing sentiment, there is a targeted accumulation by some BTC proponents, helping to drive the current consolidation. Earlier this week, Michael Saylor’s Strategy bought more Bitcoin, increasing its stash to 713,502 BTC.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Peter Brandt, Polymarket traders don’t see new Bitcoin highs this year
It could be more than a year before Bitcoin regains its all-time high of $126,100, recorded in October last year, according to veteran trader Peter Brandt.
“I do not see a new price high in 2026,” Brandt told Cointelegraph. “Not until maybe the second quarter of 2027,” he said, though he also
Cointelegraph26m ago
Bitcoin’s Most Dangerous Pattern Just Triggered: Will BTC Dump to $26K Next?
Although bitcoin has already dumped by over 50% from its all-time high of over $126,000 marked in October to a multi-year low of $60,000, the asset’s troubles might not be over, warned Merlijn The Trader.
The popular analyst indicated that the “most dangerous bitcoin pattern just completed phase
CryptoPotato27m ago
Chainalysis: Organizations linked to Russia and Iran use cryptocurrencies to buy military drones, and pro-Russian groups raise more than $8.3 million
Chainalysis reports that low-cost commercial drones have become a core tool in modern conflicts, and that Russian and Iranian organizations use cryptocurrency to fund drone procurement. Since 2022, pro-Russia groups have raised more than $8.3 million in donations, most of which were used in stablecoins. Iran’s Ministry of Defense has also accepted cryptocurrency payments for weapons.
GateNews28m ago
Bitcoin falls below 67,000 USDT, down 1.46% intraday
Gate News message, on March 31, according to market data, Bitcoin fell below 67,000 USDT, and is currently at 66,974.88 USDT, with a daily decline of 1.46%.
GateNews29m ago
Bitcoin Death Cross Signals Final Capitulation Phase as Analyst Maps Macro Bottom Zones
_Bitcoin death cross signals late-stage capitulation, with $30K–$40K range emerging as potential macro bottom zone._
After another major sell-off, Bitcoin traders are watching a specific technical event on the 3-day chart for clues about the next macro bottom. Analyst Ali Martinez points to a
LiveBTCNews30m ago
Bitcoin, Ether ETFs Hit by $503 Million Exodus as Selling Intensifies
Crypto exchange-traded funds (ETFs) faced a difficult week, with bitcoin and ether posting heavy outflows. Smaller assets showed mixed resilience, with XRP attracting modest inflows.
Crypto ETFs Slide as Bitcoin, Ether Post Heavy Weekly Losses
The last full trading week of March began with
Coinpedia55m ago
