Bitcoin fell 1.3% while Nasdaq-100 lost 5.5% in last week’s tech selloff

Bitcoin lost less than the Nasdaq-100 in last week's tech selloff. Hedge funds cut technology positions at the fastest pace since at least 2016 over the five trading sessions through Oct. 15, according to a report citing Goldman Sachs prime brokerage data . The Nasdaq-100 fell 5.49% from its Oct. 9 close of 30,883.15 to 29,187.55 on Oct. 16. Bitcoin fell about 1.27% over the same dates on UTC daily closes, from $82,546.32 to $81,500.80. Goldman's note shows global equities net sold at a pace two standard deviations beyond the prior year's flow distribution. Semiconductors took the largest dollar selling, and technology posted its largest reduction in gross positions in two months.

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