COIN Stock Price Prediction as Goldman Sachs Warns Hedge Funds Are Dumping US Tech Equities

Coinbase (NASDAQ: COIN) stock price gained by 2.11% on July 21, to close trading at $160, with the gains occurring despite Goldman Sachs warning that hedge funds are selling US tech equities at a record pace.

Coinbase share price had also surged by 3.28% in pre-market trading at the time of writing, suggesting that investors are looking past the Wall Street selloff as the ongoing earnings season lifts short-term sentiment around US equities.

Goldman Sachs Warns of Ongoing US Tech Sell-Off

The Prime Services desk at Goldman Sachs warns that hedge funds have been selling US tech stocks in the last two months.

The desk notes that the market value of tech stocks has dropped by 10%, marking the biggest drop that the sector has seen in ten years.

“The persistence and magnitude of selling since early June point to significant length reduction by tech investors, and some signs of capitulation are starting to emerge,” Goldman Sachs said.

The investment bank blames this selloff on concerns that the AI bubble is bursting.

As Coingape reported, AI stocks and semiconductor chip equities have been under selling pressure, with Reuters saying that the sector has shed $1.3 trillion in value as concerns grow that the two sectors have topped out.

COIN Stock Price Shrugs Off Goldman Sachs Warning

COIN price has risen to $166 in pre-market trading on July 20, marking the first time that it has reached this price since July 16, suggesting that the stock is shrugging off the warnings by Goldman Sachs.

These gains are coming after the earnings reported by Goldman Sachs, JPMorgan and Citigroup lifted the sentiment around US stocks.

The recent move by the White House to agree on ethics rules within the CLARITY Act are also driving gains for COIN stock price as odds rise that this crypto bill will pass if it is brought to the Senate floor this week.

As COIN rises, it faces the first obstacle at $170. The stock has not closed above this resistance since June 2.

Past trends show that COIN rose every time the stock closed above $170. In February 2026, COIN stock reached $213 one month after closing above $170.

A similar move occurred in April 2026 when COIN stock price reached $216 on April 17, just five days after moving above the obstacle at $170.

But the RSI reading of 48 suggests that the momentum is still favoring bears. This RSI reading needs to move above 50 to confirm that a strong uptrend could occur.

$345M Asset Manager Scoops $1.2M Coinbase Shares

Spartan Wealth Advisory Services, which manages $345 million worth of assets, purchased 7,059 COIN shares valued at $1.23 million between January and March 2026, per a report by MarketBeat.

However, during the same quarter, Amova Asset Management reduced its holdings of COIN shares by 7.7%.

The asset manager sold 132,046 Coinbase shares between January and March 2026, but it still holds $1.58 worth of COIN stock.