Bitcoin fell 1.3% while Nasdaq-100 lost 5.5% in last week’s tech selloff
Bitcoin fell about 1.27% during the Oct. 9–16 tech selloff, compared with a 5.49% drop in the Nasdaq-100. Goldman Sachs data showed hedge funds cut technology positions at their fastest pace since at least 2016, while leverage reached a one-year low. US spot Bitcoin ETFs saw recent outflows, though they remained net positive over four weeks and took in $526.7 million on Oct. 19. CFTC data showed leveraged funds reduced Bitcoin futures shorts, but the figures predated the selloff, so short covering as a cause of Bitcoin’s relative resilience remains unconfirmed. The analysis warns that orderly, sector-specific selling may leave Bitcoin comparatively resilient, while broader funding stress and continued ETF withdrawals could transmit losses across markets. Its price ranges for possible further declines are explicitly assumption-based scenarios.
