Bearish Bitcoin Bets Swell as Traders Pile Into ProShares UltraShort Fund
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The ProShares UltraShort Bitcoin ETF, SBIT, saw a sharp influx of capital on January 23, 2026, with fresh inflows of $11,092,005. The move represents a sizeable 8.33% of the fund’s latest assets under management, which now stand at $133.18 million, underscoring a notable uptick in demand for leveraged downside exposure to Bitcoin.
Such a meaningful single-day flow into a bearish Bitcoin product suggests that a growing cohort of traders is either hedging existing crypto exposure or positioning outright for further weakness. With SBIT designed to deliver inverse leveraged performance, the surge in assets amplifies the fund’s role as a barometer of short-term pessimism in the digital-asset market.
The related asset, BTC-USD, is currently trading at $89,437 after a rough quarter, having shed about 21.52% over the past three months. The coin’s 1-day technical signal stands at Sell, reinforcing the bearish tone that appears to be driving capital into SBIT. While Bitcoin remains far above its long-term lows, the recent drawdown and negative technicals are fueling speculation that volatility and downside risk may persist in the near term.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.