Bitcoin (BTC) prices remain stable above $52,000, with traders targeting $55,000 in the near term

Bitcoin (BTC) prices remained little changed over the weekend, hovering around the $52,000 mark on relatively lower trading volumes compared to weekdays.

The price action was in line with a recent trend of low volatility over the weekends following the issuance of spot Bitcoin exchange-traded funds (ETFs) in the US in January, which appeared to change the market structure for Bitcoin trading.

However, other major tokens such as Ether (ETH) and Polygon's MATIC posted higher gains, rising more than 5% since Friday. Ether has likely gained as expectations have risen for an Ether ETF product offering the asset to US investors – a narrative that has buoyed the Ethereum ecosystem in recent weeks.

Artificial intelligence (AI)-related tokens such as Worldcoin's WLD, Fetch AI's FET, Bittensor's TAO and Sleepless AI's AI rose as much as 10% as tech company OpenAI unveiled its text-to-video generator Sora , which triggered a run-in in the AI ​​sector.

Meanwhile, some market observers are targeting a short-term level of $55,000 for Bitcoin, with a long-term forecast of $70,000.

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

However, Hindi added that Ether is likely to see a lot of hype in the coming months due to its potentially greater upside and investment opportunities.

“The real hype will be around Ethereum. Given the potential launch of an Ether spot ETF in the US and increasing global demand for DeFi, $5,000 for ETH in 2024 could well be a realistic target,” he added.

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