Ether slumped 0.48 per cent to $1,826 per cent, and dropped 1.89 per cent over the past seven days

Bitcoin was flat on Monday, staying just above the $29,000 support level, while the token’s volatility rating reached a record low. Ether was also down, as other top crypto currencies traded mixed with Solana leading the winners. In the meantime, U.S. stock futures rose after losses last week. Investors now await another busy week of corporate earnings reports and U.S. inflation data.

Bitcoin dropped 0.03 per cent in the past 24 hours to $29,039.48 and 0.78 per cent lower for the week, as per CoinMarketCap data. The world’s biggest crypto currency traded below the $29,000 support level for a short time over the weekend.

Ether also slumped 0.48 per cent to $1,826 per cent, and dropped 1.89 per cent over the past seven days.

The most fluctuation in Bitcoin over the last week and a half has been near $29,200. And this is interesting because during this time, the dollar has gone into a growth mode, and there has been considerable profit-taking in the equity market, stated Alex Kuptsikevich, senior market analyst at FxPro.

The market has been waiting for new signals, equally prepared to return to growth or continue to drop, he added. A decline below $28,800 could swiftly take the market to $28,000 or even $27,000. An increase above $29,500 would open a quick path to $30,000 and on to $31,000.

The Bitcoin volatility index by crypto options trading platform Deribit, which indicates the expected volatility for Bitcoin over the next 30 days, reached an all-time-low of 34.02 per cent on Monday. In the meantime, crypto analytics company K33 Research noted on Friday that Bitcoin’s 5-day average volatility declined below Gold, Nasdaq and S&P500 in the week ending July 30.

Other top crypto currencies were mixed as Solana led the winners. It advanced 2.51 per cent to $23.18, but recorded a weekly decline of 4.47 per cent.

Dogecoin led the decliners, dropping 1.97 per cent to $0.07418, 4.92 per cent lower for the week.