--- title: "Analysts call bitcoin's quiet trading a sign to wait and see" description: "Bitcoin has moved less than 6% over the past month and traded near $81,735, down 1.2% on the day, Decrypt reported, citing its market data. Analysts told the outlet the calm is a \"wait and see mode\" ahead of the Federal Reserve's rate decision, with Blockworks' Jake Koch-Gallup noting past…" language: en canonical: "https://whycoinmoves.com/en/events/bitcoin-bitcoin-wait-see-mode-that-956405733b490c" published: 2026-10-23T08:58:56.000Z updated: 2026-10-23T09:59:01.000Z indexable: false --- # Analysts call bitcoin's quiet trading a sign to wait and see Bitcoin has moved less than 6% over the past month and traded near $81,735, down 1.2% on the day, Decrypt reported, citing its market data. Analysts told the outlet the calm is a "wait and see mode" ahead of the Federal Reserve's rate decision, with Blockworks' Jake Koch-Gallup noting past… Attributed sources: [Decrypt]() ## Key facts Bitcoin has moved less than 6% over the past month and traded near $81,735, down 1.2% on the day, Decrypt reported, citing its market data. Analysts told the outlet the calm is a "wait and see mode" ahead of the Federal Reserve's rate decision, with Blockworks' Jake Koch-Gallup noting past low-volatility stretches led to 30% price swings within a few months and Bitwise Europe's André Dragosch calling it a "constructive sign." Evidence strength: Single source, 1 publisher group(s) (Decrypt); this describes source coverage, not truth or causation. After site detection, observed returns were 5 minutes: -0.00% (23/10/2026, 08:58 → 23/10/2026, 09:03, UTC; Gate · USDT); 1 hour: -0.13% (23/10/2026, 08:58 → 23/10/2026, 09:58, UTC; Gate · USDT). Unlisted windows are unavailable. In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.23% (OKX · USDT; cutoff 23/10/2026, 08:58, UTC). This hourly baseline is not directly comparable with a minute move. ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.00% | -0.00% | 0.00 pp | 23/10/2026, 08:58 → 23/10/2026, 09:03 | Gate · USDT | | 1 hour | -0.13% | -0.13% | 0.00 pp | 23/10/2026, 08:58 → 23/10/2026, 09:58 | Gate · USDT | | 24 hours | — | — | — | — | — | ## Historical hourly baseline | Metric | Value | | --- | --- | | Ready | true | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.15% | | 99th percentile of absolute hourly returns | 1.23% | | BTC beta | 1.00 | | Source / cutoff (UTC) | OKX · USDT / 23/10/2026, 08:58 | ## Claims and open questions - Decrypt reported that bitcoin hasn't moved more than 6% over the past month and was around $81,735, down 1.2% on the day, with the Crypto Fear and Greed Index at a neutral 47. - Jake Koch-Gallup, senior research analyst at Blockworks, told Decrypt that past similar low-volatility stretches have led to 30% price swings in either direction within a few months. - André Dragosch, head of research at Bitwise Europe, told Decrypt that bitcoin is in "wait and see mode" ahead of the Fed's next rate decision on October 28, after the Fed raised rates in September and CPI rose 0.6% for September. - What the Federal Reserve decides at its next rate meeting, and whether that shifts bitcoin out of its current range. ## Source evidence - [Bitcoin in 'Wait and See Mode'—And That Might Be a Good Thing]() — Decrypt; published 23/10/2026, 08:55; received 23/10/2026, 08:58 (UTC). ## Recent BTC events and market reactions - [US spot bitcoin ETFs return to net outflows with $636 million withdrawn]() — Published 23/10/2026, 07:09 (UTC) · Multiple publishers (2 publishers) · Market watch · 5m -0.02% / 1h +0.13% - [Chinese court accepts prosecutors' bid to confiscate Bitcoin seized in UK]() — Published 22/10/2026, 06:24 (UTC) · Multiple publishers (3 publishers) · General news · 5m -0.02% / 1h -0.41% / 24h -0.94% - [US spot Bitcoin ETFs take in about $1.07 billion over three sessions]() — Published 22/10/2026, 04:41 (UTC) · Multiple publishers (3 publishers) · Market watch · 5m +0.05% / 1h +0.07% / 24h -1.31% - [Bitcoin slips below $82K after Tesla and Meta results unsettle tech markets]() — Published 22/10/2026, 03:51 (UTC) · Multiple publishers (2 publishers) · Market watch · 5m +0.13% / 1h +0.04% / 24h -1.04% - [Bitcoin rises above $84,500 as SpaceX earnings lift tech stocks]() — Published 21/10/2026, 15:13 (UTC) · Multiple publishers (2 publishers) · Market watch · 5m +0.15% / 1h +0.25% - [Full coin archive]() ## Research for this archive - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Perpetual funding rates and annualized yield: a 2025 comparison]() - [Bitcoin halving and bull markets: evidence from four halvings]() - [Bittensor (TAO): Bitcoin beta, volatility and the AI crypto narrative]() [Methods and limitations]() Publisher count is not independent evidence count. Price changes cannot verify news or prove causation.