Short Bitcoin Bets Lose Steam as ProShares’ SBIT Sees Fresh Outflows
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ProShares UltraShort Bitcoin ETF’s SBIT recorded outflows of $3,187,330 on February 20, 2026, trimming exposure in the leveraged bearish product. With assets under management at $173.5 million, the latest redemption represents roughly 1.84% of AUM, signaling a meaningful shift in positioning among traders hedging or betting against Bitcoin.
The related asset, BTC-USD, is currently trading at $68,039 after a sharp three‑month decline of about 22.53%, underscoring how brutal the recent pullback has been for spot holders. Yet near‑term momentum remains weak, with a 1‑day technical signal flashing Sell, suggesting downside pressure has not fully abated.
Outflows from a double‑inverse vehicle like SBIT can reflect profit‑taking by bears who rode the downturn, or early attempts to call a bottom in the crypto market. Either way, the move highlights growing debate over whether Bitcoin’s correction is closer to exhaustion, even as technical indicators warn that volatility could remain elevated for short‑term traders.
Investors watching SBIT’s flows alongside Bitcoin’s price action may view the latest withdrawals as a tentative vote of confidence that the worst of the drawdown is behind the market. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.