Leveraged Bitcoin Bulls Hit the Brakes as ProShares’ BITU Sees Sharp Outflow
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The ProShares Ultra Bitcoin ETF, BITU, recorded a notable reversal in sentiment on January 23, 2026, as investors pulled $12.41 million from the leveraged crypto vehicle. The outflow amounts to roughly 2.13% of the fund’s latest assets under management, which stand at $584.07 million, signaling a meaningful bout of de-risking among short-term Bitcoin speculators.
BITU, designed to offer amplified exposure to Bitcoin’s price swings, has been particularly vulnerable to the cryptocurrency’s recent volatility. The related asset, BTC-USD, is currently trading around $89,437, having shed about 21.5% over the past three months. The near-term picture remains fragile, with the 1-day technical signal flashing a cautious Sell, a backdrop that helps explain why leveraged exposure is being pared back.
The combination of a sizeable percentage outflow and a deteriorating three-month price trend suggests traders are increasingly reluctant to maintain aggressive bullish positions through leveraged products. While longer-term crypto believers may view the recent drawdown as a potential accumulation phase, the latest move in BITU flows underscores how quickly sentiment can flip when volatility cuts against leveraged bets.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.