Bitcoin (BTC) could not sustain its gains and succumbed to profit-booking as the U.S. trading markets started the week, possibly indicating that bears have not given up yet. 

PlanB, creator of the popular BTC stock-to-flow model, does not seem to be perturbed by the dull price action of the past few days. The analyst believes that his worst-case scenario projection of $98,000 by Dec. 1 and $135,000 by Jan. 1 remains in place.

However, long-term holders do not seem to be waiting for higher levels and have started booking profits, according to analyst William Clemente who cited Glassnode data. According to Clemente, “bull market distribution has begun.”

Daily cryptocurrency market performance. Source: Coin360

Not everyone is bullish on Bitcoin. Billionaire fund manager Kyle Bass told Investor’s Podcast Network that making money from Bitcoin will be “really difficult” from the current levels because of the intense regulation by the U.S.government.

Could lower levels attract buying by the bulls or will traders continue to book profits? Let’s study the charts of the top-10 cryptocurrencies to find out.