Cloud-Radio Access Network (C-RAN) is a new emerging technology that holds alluring promises for Mobile network operators regarding capital and operation cost savings. However, many challenges still remain before full commercial deployment of C-RAN solutions. Dynamic resource allocation algorithms are needed to cope with significantly fluctuating traffic loads. Those algorithms must target not only a better quality of service delivery for users, but also less power consumption and better interference management, with the possibility to turn off RRHs that are not transmitting. To this end, we propose in this paper a dynamic two-stage design for downlink OFDMA resource allocation and BBU-RRH assignment in C-RAN. Specifically, we first model the resource and power allocation problem in a mixed integer linear problem for real-time fluctuating traffic of mobile users. Then, we propose a Knapsack formulation to model the BBU-RRH assignment problem. Simulation results show that our proposal achieves not only a high satisfaction rate for mobile users, but also minimal power consumption and significant BBUs savings, compared to state-of-the-art schemes.