Bitcoin remains flat at $83,000 before FOMC...risk aversion

With the Federal Open Market Committee (FOMC) meeting of the U.S. Federal Reserve Board approaching, Bitcoin is on a wait-and-see basis and is hovering around the $83,000 level.
At 11:15 a.m. on the 18th, the price of Bitcoin on CoinMarketCap was up 0.39% from the same time the previous day.
The US Bitcoin Exchange Traded Fund (ETF) has also recorded a net flow of 5 weeks in a row.
The record high of 100,000 net outflows broke the longest period of time on record, set by four consecutive weeks of net outflows in April last year.
In the past, when concerns about an economic downturn spread, demand for Bitcoin often increased.
Currently, despite growing concerns about stagflation, funds are not flowing into Bitcoin, which has been seen as a "safe haven."
In relation to this, cryptocurrency analyst Noel Ajisung said, "Bitcoin is no longer a safe haven.
"There is a risk aversion atmosphere in the market right now, and with all the uncertainty facing investors, it will take time for Bitcoin to show any bullishness."
He explained.