Hedge funds sold US tech stocks at a record pace this week, with $8.5 billion in outflows, according to Goldman Sachs data. The sell-off is the largest on record and has implications for Bitcoin and crypto markets, which have historically moved in tandem with risk-on equities.
Record outflows from tech stocks
Goldman Sachs reported that hedge funds offloaded US tech stocks at a pace never seen before. The $8.5 billion in outflows marks a sharp reversal from the heavy buying that characterized much of the first half of 2026. The data covers the week ending July 17, and the selling was concentrated in the largest tech names.
Crypto implications
The record sell-off in tech stocks doesn't happen in a vacuum. Crypto markets have often correlated with the Nasdaq and other tech-heavy indices, especially during periods of macro uncertainty. If hedge funds are rotating out of risk assets broadly, digital assets could feel the pressure. Bitcoin was trading around $62,000 earlier this week, but the direction of the next move may depend on whether the selling spreads beyond equities.
The coming days will show whether crypto can hold its ground as hedge funds pare back risk. No major catalyst is on the immediate horizon, and the market is watching for any signs of contagion from the tech sell-off. The question now is whether this is a one-off rotation or the start of a broader de-risking cycle.
