Bitcoin Bears Blink: $8.8 Million Rushes Out of ProShares UltraShort Fund
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The ProShares UltraShort Bitcoin ETF, SBIT, recorded a sizable outflow of $8.77 million on January 16, 2026, as investors pulled capital from the leveraged bearish vehicle. With assets under management now standing at roughly $105.7 million, the latest move represents about 8.3% of the fund’s asset base, signaling a meaningful shift in sentiment among traders who had been positioning for further downside in Bitcoin.
The withdrawal suggests that some short-focused investors are either taking profits or unwinding risk after a volatile stretch in the crypto market. While SBIT is designed to deliver inverse leveraged exposure to Bitcoin’s price, such a large single-day outflow hints at growing caution around maintaining aggressive short bets, particularly as volatility remains elevated and the cost of being wrong on direction can compound quickly in a leveraged product.
The related asset, BTC-USD, is currently trading around $89,045.31, having fallen approximately 17.4% over the past three months. Despite this substantial pullback, short-term technicals remain pessimistic: the one-day signal is a Strong Sell, underscoring that momentum and trend indicators still point to pressure on the downside, even as some ETF investors step away from leveraged bearish exposure.
In this environment, the combination of persistent negative technicals on Bitcoin and notable outflows from an ultra-short ETF highlights a market caught between ongoing macro uncertainty and the risk of sharp reversals that can punish both bulls and bears. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.