Coyle revealed on Friday a fee had been agreed for the England international but his Chelsea counterpart Andre Villas-Boas then described the two parties as being "miles apart" in their negotiations.
Cahill received a great reception as he captained Bolton on Saturday in what was possibly his last game for the Trotters in a 1-1 draw with Wolves and made a point of clapping all sides of the Reebok Stadium after the game.
Coyle, who denied another club were involved, stressed there had been only one meeting between Cahill's agent and Chelsea, and insisted the deal was progressing as expected.
He said: "I heard what Andre Villas-Boas said the other day that they were a bit apart. He's obviously heard from the one meeting.
"They've only had one meeting with Gary's representative and then, with the games coming up, I had to make sure Gary was focused. Gary hasn't spoken to Chelsea yet.
"It's like anything else, if I got into a meeting with you, we're not going to shake hands after two seconds and agree, you're going to be apart, that's how negotiations work.
"Whatever comes in the next few days, it'll come, but if it doesn't then Gary remains a Bolton player."
Coyle also said he had had no doubts about playing Cahill on Saturday, adding: "I know his character, he was focused, I thought his performance was terrific. I knew mentally he'd be fine."