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Bitcoin Surges To Record High Amid Robust ETF Inflows

Bitcoin Sets New Milestones

Bitcoin extended its upward trajectory on Friday, reaching unprecedented heights as it closed higher by 3% at $117,297.10, according to Coin Metrics. Earlier in the session, the flagship cryptocurrency peaked at $118,872.85, spearheading the market rally. Ether similarly surged by nearly 6% to $2,976.90, briefly climbing above the $3,000 threshold for the first time since February.

ETF Inflows Ignite Renewed Market Confidence

The current rally is largely underpinned by significant capital inflows into bitcoin and ether ETFs. Bitcoin ETFs recorded their largest day of inflows this year, attracting $1.18 billion, while ether ETFs notched a substantial $383.1 million. This influx of funds has bolstered investor sentiment, even as stocks tied to bitcoin prices, such as Mara Holdings, Riot Platforms, and MicroStrategy, witnessed moderate gains between 1.5% and 3%. Key crypto trading platforms like Coinbase and Robinhood also experienced gains around 1%.

Market Dynamics And Short Liquidations

The upward momentum in bitcoin triggered a wave of short position liquidations, with more than $650 million in bitcoin and $215 million in ether liquidated over the past 24 hours. Traders employing leveraged short strategies were forced to cover their positions, further energizing the price surge—a dynamic that reflects broader market trends seen since mid-April, when bitcoin ETF inflows began rising significantly.

Fed Policy And Macro Trends

The rally followed a gradual start on Wednesday, influenced by Federal Reserve meeting minutes that revealed divergent views on the pace of interest rate cuts. Markus Thielen, CEO of 10x Research, noted that expectations of a dovish shift from the Fed, coupled with potential fiscal policy changes like the proposed “One Big Beautiful Bill Act,” have helped support bitcoin’s ascent. He added that the current macro environment offers limited catalysts, leading equity investors to adopt a more cautious short-term approach during the summer season.

Investor Outlook And Future Catalysts

With bitcoin on track for a nearly 10% weekly gain and ether up over 20%, investor enthusiasm remains high. Market participants are betting on further record-breaking moves in the second half of the year, as corporate treasuries increase their bitcoin acquisitions and legislative clarity on crypto regulations approaches. While any significant macroeconomic downturn could reverse the trend, the current consensus favors continued upward momentum driven by strong ETF inflows and evolving fiscal and policy landscapes.

TikTok Elevates Songwriters With Enhanced Profile Features

Introducing Enhanced Visibility For Songwriters

TikTok is poised to transform the way songwriters promote their craft by integrating a suite of new features designed to highlight their musical works on the platform. Now in beta, the update includes a dedicated “Songwriter” label and a specialized profile tab that showcases their songs, allowing creators to build a more compelling narrative around their artistry.

Survey-Driven Innovation

The enhancements stem from extensive research, with TikTok surveying over 870 songwriters and conducting in-depth interviews to identify the key needs in profile building and monetization. Supplementary data from an independent study further confirmed that more than half of social media-savvy songwriters rely on TikTok for profile promotion. Such rigorous market research underpins TikTok’s commitment to driving tangible benefits for creative professionals.

Selective Rollout and Strategic Partnerships

At present, only a limited group of publishing partners and songwriters have access to the new features. Interested parties must join a waitlist to take part in this initiative, emphasizing TikTok’s strategy of fostering an exclusive ecosystem that prioritizes high-quality content and strategic industry alliances.

Competitive Momentum In The Music Streaming Arena

TikTok’s new tools arrive at a time when competitors are also enhancing their songwriter engagement. Spotify, for instance, has been offering dedicated features for songwriters over the years, while Tidal recently expanded its offerings by introducing royalty tracking capabilities. Despite discontinuing its TikTok Music streaming service last year, the platform continues to serve as a vital hub for music discovery and artist promotion.

Empowering Creative Storytelling

“We are passionately committed to supporting songwriters at TikTok, which is why we built these tools to celebrate and elevate their work on our platform,” stated TikTok’s Global Head of Music Publishing Licensing and Partnership. By enabling songwriters to seamlessly integrate their musical narrative with their personal content, TikTok is not only enhancing profile visibility but also building a more engaging, multi-dimensional user experience.

As TikTok continues to innovate, these developments are set to redefine how songwriters connect with their audiences and manage their creative endeavors, reaffirming the platform’s role as a pivotal force in the digital music landscape.

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