Bitcoin ETFs, MicroStrategy, and whales have collectively caused a three-fold increase in private Bitcoin transactions, according to an analyst as reported by Cointelegraph. The surge in activity can be attributed to the growing popularity of Bitcoin exchange-traded funds (ETFs), the involvement of companies like MicroStrategy in the cryptocurrency market, and the influence of large holders known as whales. This spike in private Bitcoin transactions highlights the increasing interest and participation in the digital currency space.