Short Bitcoin Bets Lose Steam as ProShares’ SBIT Sees Investor Pullback
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ProShares UltraShort Bitcoin ETF, trading under ticker SBIT, recorded outflows of $1,632,909 on February 04, 2026, a move that trimmed just under 0.9% of its $185.7 million in assets under management. While modest in percentage terms at 0.88% of AUM, the withdrawal suggests a subtle cooling in demand for leveraged bearish exposure to Bitcoin after a bruising few months for the underlying asset.
The related asset, BTC-USD, is currently trading at $65,709.84, having shed roughly 36.7% over the past three months. Despite that deep drawdown, the coin’s 1-day technical stance remains tilted to the downside, with a current signal of Sell. The combination of heavy recent losses in Bitcoin and fresh outflows from a short-focused ETF hints that some traders may be locking in profits on prior bearish bets or cautiously stepping away from leveraged risk rather than doubling down on further declines.
SBIT’s latest flow data underscores how sentiment around Bitcoin’s volatility is becoming more nuanced: while technicals still flash warning signs for the token itself, positioning in inverse products is showing signs of fatigue, suggesting that the most aggressive phase of the downtrend may be giving way to a more tactical, range-bound environment. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.