Three altcoins stood out for all the wrong reasons over the past week, posting some of the steepest declines among crypto majors as a broad market selloff weighed heavily on risk assets. @Sky
Three altcoins stood out for all the wrong reasons over the past week, posting some of the steepest declines among crypto majors as a broad market selloff weighed heavily on risk assets.
@SkyEcosystem's $SKY fell 20.3%, @AskVenice's $VVV dropped 19.6%, and @uniswap's $UNI lost 16.7%, making them the worst performers of the week among established tokens. @Dashpay's $DASH and @Mantle_Official's $MNT also recorded double-digit losses.
The losses did not occur in isolation. The broader crypto market reversed its early-October strength and slipped into a risk-off phase, with Bitcoin pushing to around $87,100 on October 2 before sellers took control midweek, as reports of a possible Iran strike plan lifted oil prices while Treasury yields stayed elevated.Bitcoin closed the week at $82,123, down 2.81%, while Ether finished at $2,488, off 6.77%.
Forced liquidations jumped to roughly $548 million on October 7, and spot Bitcoin ETFs recorded $484.9 million in net outflows that day, their largest daily outflow since June, turning October's monthly flows negative. Altcoins, as is typical in sharp risk-off moves, suffered far steeper pullbacks than Bitcoin itself.
For $SKY in particular, the selloff was compounded by token-specific concerns. The token fell amid market volatility, a Moody's B3 credit rating, and legacy contract exploit concerns, with mixed signals from both factors contributing to the decline.No specific project-related regulatory action caused the drop, making it largely a market-wide risk-off move, though the combination of weak sentiment and low liquidity left $SKY especially exposed.
Across the altcoin space, losses deepened further down the market cap list, with UNI falling 19% and MNT losing 18% on the week. The pattern is consistent with what analysts have flagged as a contraction in risk appetite, where smaller-cap assets tend to amplify Bitcoin's moves on the downside.
With macro pressures including elevated Treasury yields and geopolitical uncertainty still in play, the near-term outlook for altcoins remains cautious.
Sources:CoinMarketCap: Sky (SKY) Drops Amid Moody's Rating and Market VolatilityInvesting.com: Bitcoin Falls to $82K, Heads for Weekly Losses Amid Yield PressureZebPay: Weekly Crypto Report, 9 October 2026
