# Bitcoin Whales Surge Amid ETF Boom: Price Drop May Be Short-Lived By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/business/13215 Published: 2024-10-18T02:27:20.000Z Updated: 2024-10-18T02:27:20.000Z Section: Business > Recently, Bitcoin transactions involving large amounts, known as whale transactions, have surged to their highest level in over 10 weeks. On Tuesday, there were 11,697 transfers of $100,000 or more, and Wednesday also… Recently, Bitcoin transactions involving large amounts, known as whale transactions, have surged to their highest level in over 10 weeks. On Tuesday, there were 11,697 transfers of $100,000 or more, and Wednesday also showed strong activity. At the same time, conversations on social media have shifted significantly towards Bitcoin, which now makes up over 25% of all discussions about cryptocurrencies. This change comes as Bitcoin's price has risen above $68,000 for the first time since July. These trends suggest that the current price rally might be slowing down because major investors are taking profits and many traders are feeling a fear of missing out (FOMO). However, longer-term indicators still look positive, suggesting that any potential drop in price could be short-lived. The Bitcoin ETF scene is buzzing, with total net inflows soaring to $20 billion after just 193 trading days excluding Grayscale (GBTC), that figure skyrockets to a whopping $40 billion. In the first three days of this trading week alone, these ETFs have raked in an impressive $1.39 billion, with absolutely no outflows in sight! Led by BlackRock (IBIT), which has added a staggering 11,331 BTC, worth around $762 million. This boosts its total to 380,971 BTC, valued at about $25.7 billion, making it home to over one-third of all US Spot BTC ETF holdings. The momentum is undeniable! [TokenPost]() | info@tokenpost.com ## Links in this article - [TokenPost](https://www.tokenpost.com)