Short Bitcoin Traders Hit the Exit as ProShares UltraShort ETF Sees Notable Outflow
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The ProShares UltraShort Bitcoin ETF, SBIT, recorded net outflows of $2.83 million on January 9, 2026, trimming bearish exposure just as crypto markets remain volatile. With assets under management at $113.7 million, the latest redemption represents roughly 2.49% of the fund’s capital, a meaningful pullback that suggests some traders are dialing down leveraged short bets against Bitcoin.
The related asset, BTC-USD, is currently trading around $90,520.02, down about 21.10% over the past three months. Despite that sizable drawdown, the 1-day technical signal has shifted to a more constructive tone, flashing a Buy reading. That combination—recent weakness with an improving short-term technical backdrop—may be encouraging some investors to lock in profits on inverse exposure or reduce risk ahead of a potential rebound.
Flows of this size will not, on their own, reshape the broader Bitcoin market, but they do offer a window into positioning sentiment. A retreat from leveraged short products like SBIT can often coincide with an inflection in trader expectations, from anticipating further downside to bracing for a counter-rally or at least a period of consolidation.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.