According to CoinMeta, a Goldman Sachs report stated that hedge funds reduced leverage at the fastest pace since March in October, with net leverage falling by 4.2 percentage points to 73.4%. Over the past two weeks, Goldman Sachs reported approximately $20 billion in sales of tech stocks, while five consecutive trading days of selling of AI stocks wiped out the cumulative net purchases since early 2025. Fund managers with bullish and bearish fundamental views lost 3.5%, while those with systematic strategies lost 3.6%. Selling pressure was mainly concentrated in the tech, industrial, and materials sectors, while healthcare and real estate attracted buying interest.