Bitcoin remains stable at over $52,000 — AI-related tokens are doing well with the release of OpenAI “Sora” | CoinDesk JAPAN

• Bitcoin remained strong, and Ethereum rose more than 5% as investors bet on ETF approval in the coming months.
• AI-related tokens soared as OpenAI's Sora launch sparked new expectations for growth in the sector.

Bitcoin (BTC) prices remained largely unchanged over the weekend, hovering around $52,000 despite relatively low trading volume compared to weekdays.

This price movement is consistent with the recent trend of lower weekend volatility following the launch of a Bitcoin exchange-traded fund (ETF) in the United States in January, suggesting a change in the market structure of Bitcoin trading. It looks like

However, other major tokens such as Ethereum (ETH) and Polygon (MATIC) posted strong gains, rising more than 5% since Friday. ETH likely rose due to increased expectations for ETFs that provide an environment for American investors to invest in ETH. Meanwhile, the CoinDesk 20 Index (CD20), the largest and most liquid crypto asset (virtual currency) benchmark, rose 2.68% in the past 24 hours.

Artificial intelligence (AI) related tokens such as World Coin (WLD), Fetch AI (FET), Bittensaw (TAO), Sleepless AI (AI), etc., technology company OpenAI unveils Sora, a text-to-video converter That sparked a sector-wide rally, jumping 10%.

Meanwhile, some market observers are predicting Bitcoin's short-term level at $55,000 and long-term level at $70,000.

“Bitcoin is nearing its peak and will likely aim for $55,000 in the coming weeks,” Ed Hindi, chief investment officer at Tyr Capital, told CoinDesk in an email. “We expect Bitcoin to rise to an all-time high in 2024 and eventually reach the $70,000 mark.”

However, Hindy added that Ethereum will become very popular in the coming months due to its upside potential and investment opportunities.

“The real hype will be around Ethereum. With the potential introduction of an Ethereum spot ETF in the U.S., coupled with the growing global appetite for DeFi, ETH’s $5,000 in 2024 is realistic. It's likely to be a target,” Hindy said.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Bitcoin Steady Over $52K;Traders Target $55K in Short-Term