On Thursday, shares of the ProShares UltraShort Bitcoin ETF (Symbol: SBIT) fell to as low as $42.34, entering oversold territory with a Relative Strength Index (RSI) reading of 26.0. An asset is considered oversold when the RSI drops below 30; for comparison, the S&P 500 currently has an RSI of 51.6.
SBIT’s 52-week performance shows a low of $23.60 and a high of $76.51, with the last trade recorded at $42.70. The shares declined approximately 12.4% during the trading session.
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