Bitcoin Holds Near $84.7K as Buyers Eye $88K Breakout

Bitcoin's price remains stable around $84,700 on October 4 after failing to break through the $87,000 resistance level. Buyers are eyeing a potential breakout above $88,000, which would strengthen the case for an advance towards $90,000 and potentially $96,000.

The immediate trading range sits between $82,000 and $86,000, while $88,000 remains the more important daily breakout level. A confirmed move above $88,000 would indicate a shift in momentum and potentially lead to further price gains.

The Bitcoin-to-gold ratio is approaching another potential breakout, which could support the case for improving demand for BTC. However, relative outperformance alone does not prove that investors are directly selling gold to purchase Bitcoin.