Bitcoin’s price volatility has dropped to its lowest level on record, raising the prospect of a sharp move over the next two months.

Forbes reported on August 18 that Sean Farrell, Fundstrat’s head of digital asset strategy, wrote in a recent report that Bitcoin has traded sideways since June after falling about 50% from its October peak last year. Over the past month, its price action has been among the narrowest in the token’s history.

Farrell wrote that similar stretches of sideways trading in the past were followed by a sharp pickup in volatility. In those earlier cases, the median price move over the following 60 days was about 30%.

He also identified the recent surge in global government bond yields as a key factor that could amplify Bitcoin’s volatility. A rapid rise in yields could act as a catalyst for a large move in Bitcoin prices in either direction.

Farrell stressed that a 30% move does not necessarily mean gains. Bond yields’ sharp ascent could still push Bitcoin sharply higher or lower.