Short Bitcoin bets took a hit this week as ProShares UltraShort Bitcoin ETF, SBIT, recorded outflows of $2.09 million on March 19, 2026. The withdrawal represents roughly 1.1% of its $190.6 million in assets under management, signaling waning conviction among investors seeking leveraged downside exposure to the world’s largest cryptocurrency.
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The related asset, BTC-USD, is currently trading at $70,655.23 after sliding about 20.4% over the past three months. Despite that sizable pullback, its 1-day technical signal still flashes a cautious Sell, suggesting momentum traders remain wary of declaring a durable bottom in Bitcoin’s price.
The flows out of SBIT may reflect profit-taking by bears who have already benefited from Bitcoin’s recent weakness, or a tactical shift toward neutral positioning ahead of key macro and regulatory catalysts. With leveraged inverse products amplifying short-term moves, even modest swings in BTC can quickly alter risk appetite among sophisticated traders using SBIT as a hedging tool.
Still, the AUM base remains sizable, indicating that demand for bearish Bitcoin instruments has not vanished, but is instead adjusting to a more volatile and range-bound market regime. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.