Bitcoin Bears Reload: ProShares’ BITI Sees Fresh Inflows as Crypto Slump Deepens
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The ProShares Short Bitcoin Strategy ETF, BITI, recorded fresh inflows of $1,804,456 on January 23, 2026, as traders renewed their bets against the world’s largest cryptocurrency. The latest move represents roughly 1.67% of the fund’s assets under management, which now stand at $107.77 million, underscoring a meaningful uptick in demand for downside protection and speculative short exposure.
The related asset, BTC-USD, is currently trading at $87,605.50, having shed about 22.5% over the past three months. Despite Bitcoin’s already steep pullback, the token’s near-term outlook remains fragile, with a 1-day technical reading flashing a cautious Sell signal.
Flows into BITI suggest that, rather than seeing the latest drawdown as a buying opportunity, a segment of the market is bracing for further volatility or additional downside in Bitcoin. For hedgers, the ETF offers a straightforward way to offset crypto exposure without directly shorting the underlying token; for speculators, it provides leveraged conviction that the current correction is not yet over.
Against a backdrop of rising macro uncertainty and shifting expectations around digital-asset regulation and liquidity, the renewed interest in a short Bitcoin product hints at lingering skepticism about the durability of any near-term rebound. If Bitcoin continues to trade defensively, BITI’s inflows could build, amplifying its role as a barometer of bearish sentiment in the crypto complex.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.