Dormant Bitcoin whale transfers 2,650 BTC to major crypto trading firms

A Satoshi-era Bitcoin whale has transferred more than $200 million worth of BTC to crypto trading firms FalconX and Cumberland as exchange inflows and ETF outflows continue drawing attention across the market.

According to blockchain analytics provider Onchain Lens, citing Arkham data, the dormant whale moved 2,650 BTC, valued at roughly $203 million, to FalconX and Cumberland through three separate transactions on Sunday.

Data shared by the analytics firm showed the address still holds nearly 6,000 BTC, currently worth around $462 million.

Whale transfers to FalconX and Cumberland. Source: Arkham Intelligence.

Although the transfers do not confirm an immediate sale, large wallet activations tied to early Bitcoin holders often attract market attention because traders watch for signs of additional supply entering the market. 

Transfers to firms such as FalconX and Cumberland can sometimes be linked to over-the-counter transactions designed to avoid disrupting spot prices on public exchanges.

However, retail traders frequently interpret dormant whale activity as a bearish signal regardless of whether the coins are sold directly into the market. As such, concerns surrounding a possible liquidity event could increase precautionary selling and expose Bitcoin to another test of the recent $74,600 support level.

Whale transfers emerge as exchange inflows continue rising

The latest whale transaction has appeared during a period of growing concern over rising Bitcoin inflows to exchanges and trading desks.

Earlier this month, another dormant Bitcoin address moved 500 BTC worth about $40.6 million after remaining inactive for more than 12 years. Separately, a different whale transferred nearly $20 million in BTC to Binance last month.

As previously reported by crypto.news CryptoQuant analyst Darkfost said Binance recorded almost 10 consecutive days of elevated Bitcoin inflows. 

Binance’s weekly average BTC inflows climbed from 378 BTC on May 16 to 1,190 BTC in less than 10 days.

Darkfost also reported that Binance registered a daily inflow exceeding 3,600 BTC on May 18, while exchange reserves increased from 616,000 BTC on April 24 to 632,000 BTC within one month.

According to the analyst, investors typically move Bitcoin onto exchanges when preparing to sell, reduce exposure, or secure profits during periods of uncertainty. Darkfost linked the inflow trend to market weakness tied to geopolitical tensions and softer appetite for risk assets.

Spot Bitcoin ETFs have also recorded sustained withdrawals during the same period. Crypto.news previously reported that U.S.-listed spot Bitcoin ETFs logged net outflows for six straight trading sessions between May 15 and May 22, with total redemptions reaching $1.26 billion across 11 funds.

While analytics platform Santiment said past ETF outflow streaks have occasionally appeared before long-term accumulation phases, the firm added that weaker ETF demand combined with rising exchange inflows can reduce visible buyer support in the short term.

Bitcoin (BTC) traded around $77,220 at the time of reporting, according to crypto.news price data. After briefly falling to nearly $74,600 on Saturday, the asset recovered modestly but remained well below its October 2025 all-time high near $124,900.