Bitcoin dropped to new lows for the month at the opening of Wall Street on July 18, but traders are still holding onto the $30,000 support level. The relative strength index (RSI) is waning and there is little sign of upward momentum, leading some to predict further downside targets.

FalconX, a digital assets prime brokerage, has teamed up with UK-based crypto index provider CF Benchmarks to offer access to regulated crypto derivative markets through swaps, options, and non-deliverable forwards that settle to single asset reference rates.

A recent survey conducted by CryptoVantage found that 78% of Americans who invest in cryptocurrency believe that Bitcoin will reach a new all-time high. 23% of respondents predicted this would happen within the next year, while 47% believe it will happen within the next five years.

Grayscale's GBTC volume has surged, indicating bullish sentiment in fiat markets. The number of addresses holding more than 1 Bitcoin has also increased, with whales showing interest in Bitcoin.

The price of Bitcoin has fallen to the lower end of its one-month trading range, reaching as low as $29,704 before recovering slightly. Analysts have noted a lack of momentum and liquidity in the market, with narrow Bollinger Bands indicating a potential move on the horizon.

Bitcoin and other cryptocurrencies experienced a decline in value following last week's gains, with Bitcoin falling by 2% in the past 24 hours to a low of $29,679. Ether, the second largest cryptocurrency, also saw a 2% decline to $1,880. Smaller cryptocurrencies, including Ripple's XRP, SOL, and XLM, experienced even steeper declines, with XRP falling by 5.4% and SOL and XLM shedding over 5%. LDO, the governance token of Lido Finance, was among the worst performers, plummeting by almost 12%.

Bitcoin's current price is steady above $30,000 with low volatility. Glassnode's technical indicator data shows a tight Bollinger Bands range of only 4.2%, making it the quietest Bitcoin market since early January. The digital asset market is experiencing an extreme squeeze with the classic 20-day Bollinger Bands.

Bitcoin's price has been volatile and is approaching a crucial area, with the overall price action signalling a bearish outlook. The daily chart shows the formation of a bearish double-top pattern near the major resistance region of $30K, with significant dynamic resistance from the middle-trendline of the ascending channel hindering further price appreciation.

On Monday, Ethereum's price was at $1,915, experiencing a 0.8% wobble after sliding from a three-month high of $2,015 due to an aggressive take-profit drive over the weekend. Traders are wary of a potential pullback below the immediate support level of $1,900, especially with Bitcoin's price hovering around $30,000.

Bitcoin may be entering its quietest market period since January, according to on-chain analytics firm Glassnode. The cryptocurrency market is experiencing remarkably little volatility, with the classic 20-day Bollinger Bands undergoing an extreme squeeze.