Amid multiple headwinds, Bitcoin’s price in April is down just 12% so far after seven straight months of gains.

April has been a volatile month for Bitcoin, with its price trading around $70,000 at the start of the month before encountering a series of challenges that saw it fall to a local low just below the $60,000 mark.

Despite having nearly three days left in the month, Bitcoin is currently trading around $63,000.

The month got off to a rocky start as the end of the US tax season prompted a potential sell-off in Bitcoin. This was compounded by economic headwinds, including a sharp spike in gold prices, higher-than-expected inflation, and rising yields that caused risk assets to pause temporarily.

Geopolitical tensions in the Middle East also added to the situation, causing BTC to see a negative funding rate for the first time since late 2022. These headlines continue to weigh on the flagship cryptocurrency’s price, causing it to fall.

Additionally, ETF inflows began to taper off, with BlackRock’s IBIT inflows halting for two consecutive days, while GBTC outflows continued. Anticipation surrounding the halving event, typically a bullish long-term factor for Bitcoin, has added uncertainty in the near term, especially with regard to transaction fees and miner activity.

Additionally, the U.S. government sold 1,999 BTC, adding to the bearish news, while Bitcoin saw a large number of liquidations.

Despite these challenges, Bitcoin’s resilience continues to shine, as it is only down about 12% this month. Bitcoin has risen for seven consecutive months, making observers wonder whether it can achieve an unprecedented eighth consecutive month of growth.