CandleFocus UltraShort Bitcoin ETF Offering 2x Inverse Returns Sees Record Volume as BTC Holds Above $90K
2024-11-28
Author: Content Editor
The ProShares UltraShort Bitcoin ETF (SBIT) experienced record trading volume as bitcoin approached $90,000, indicating increased interest and potential for a rally to $100,000. The ETF, which offers a leveraged bearish bet on bitcoin, saw a spike in volume, likely due to investors protecting their long positions or capitulating after anticipating a bitcoin slide. Inflows into the ETF have also increased, but some bulls may feel demoralized as spot bitcoin ETFs have accumulated significant net inflows since November 13.
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