Bitcoin Slumps, Bears Pile In: Big Money Rushes Into ProShares UltraShort Bitcoin ETF

Bitcoin Bears Double Down: Inflows Surge Into ProShares UltraShort Bitcoin ETF

The ProShares UltraShort Bitcoin ETF, SBIT, recorded a fresh wave of capital on January 2, 2026, with $5,275,500 in new inflows, signaling renewed appetite for leveraged downside exposure to the world’s largest cryptocurrency. The move represents roughly 4.27% of the fund’s latest assets under management, which stand at $123.43 million—an unusually large single-day shift that underscores how sharply sentiment has swung toward hedging and speculation against Bitcoin.

Such a sizeable flow relative to AUM suggests that traders are either positioning for further weakness in Bitcoin or seeking short-term tactical hedges after a volatile quarter. Leveraged inverse products like SBIT typically attract active traders rather than long-term investors, and this spike in inflows hints at rising conviction that recent price action may not yet have found a durable floor.

The related asset, BTC-USD, is currently trading at $91,567.26, capping a bruising three months in which it has dropped about 23.62%. Despite that steep drawdown, short-term signals have flipped more constructive: the 1-day technical rating for Bitcoin currently flashes a Buy, suggesting that near-term momentum and technical indicators are pointing to a potential rebound—or at least a pause in the downtrend.

The juxtaposition is striking: as technical models turn cautiously optimistic on Bitcoin’s immediate outlook, derivatives and inverse ETF flows reveal that many market participants still prefer to keep downside insurance in place. Whether SBIT’s latest inflows reflect smart hedging at the bottom or a crowded bearish trade will likely hinge on how Bitcoin responds to this technically oversold backdrop in the coming weeks.

For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.