Short Bitcoin Bets Lose Steam as Traders Pull Cash from ProShares’ Leveraged Bear Fund
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The ProShares UltraShort Bitcoin ETF, SBIT, saw investors withdraw $2.83 million on January 9, 2026, marking a notable bout of outflows from the leveraged bearish vehicle. With assets under management now standing at $113.75 million, the latest redemption wave represents roughly 2.49% of the fund’s AUM, suggesting a meaningful shift in positioning among traders who had been betting against Bitcoin.
The related asset, BTC-USD, is currently trading at $92,145.13. Despite a sharp 3‑month decline of about 19.8%, the coin is flashing a short-term bullish cue, with a 1-day technical signal of Buy. This combination of tactical outflows from a short-focused ETF and a nascent technical uptick in Bitcoin itself hints that some investors may see the recent selloff as overdone and are paring back downside hedges.
While it is too early to call a durable trend reversal, the move out of SBIT underscores a softening appetite for leveraged bearish exposure just as Bitcoin attempts to stabilize after a prolonged drawdown. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.