Bitcoin (BTC) is inching closer to entering price discovery, provided it breaches its previous all-time high of $69,000, say crypto analysts. The peak was first reached during the 2021 bull run and was tested again on March 5, following the approval of Bitcoin ETFs in the US. Despite several attempts, Bitcoin has remained below this threshold for nearly 10 weeks. Analysts believe that the supply needs to "dry up" around the resistance zone and coins must transition from impatient to patient holders for favorable outcomes. At the time of publication, BTC was trading at $68,485, up 1.5% over the last 24 hours.