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. Technology accounts for 23.5% of net allocation in Goldman's global prime brokerage book, in the 90th percentile of the past five years, and hedge fund net leverage fell to a one-year low of 48.6%.The Bitcoin comparison is preliminary because a UTC close sits four hours from the Nasdaq's 4 p.m. ET close in October. The difference between these returns is about 4.22 percentage points.US spot Bitcoin ETFs took in a net $1.72 billion from Sept. 21 through Oct. 16, according to Farside Investors data.The last two...