Bitcoin Bears Blink as ProShares UltraShort Bitcoin Sees Sharp Outflows
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Investors pulled $8.39 million from the ProShares UltraShort Bitcoin ETF, SBIT, on December 26, 2025, marking a notable vote of reduced conviction in leveraged downside bets on the world’s largest cryptocurrency. The outflow represents roughly 6.9% of the fund’s $121.45 million in assets under management (AUM), a sizable one-day shift that suggests traders may be paring back hedges or short-term speculative shorts after a bruising quarter for Bitcoin.
The move comes against a backdrop of sustained weakness in the underlying asset. The related asset, BTC-USD, is currently trading at $87,952.01, having dropped about 23.4% over the past three months. Despite that steep slide, its 1-day technical profile is flashing a cautious equilibrium, with a Hold signal suggesting neither clear bullish momentum nor a renewed leg lower in the immediate term.
The combination of significant outflows from a bearish, leveraged vehicle like SBIT and a neutral near-term technical stance for Bitcoin hints that some market participants may see limited additional downside in the short run—or are at least locking in profits on prior short positions. Yet with Bitcoin still deep in negative territory over the quarter, the flows could also reflect a recalibration of risk as volatility remains elevated and liquidity thins into year-end.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.