The cryptocurrency market is trading under pressure at the time of writing on Tuesday, weighed down by risk-off sentiment. The Crypto King, Bitcoin (BTC), is constrained below $70,000, with the price holding around $69,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), exhibit technical weakness but are holding above key support levels at $2,000 and $1.40, respectively.

Crypto sell-off persists as market cap drops 10%

The crypto sector has been in an overall downtrend since Bitcoin hit its record high of $126,199 on October 6, when total market capitalisation rose to $4.38 trillion. 

The October 10 crash significantly dampened sentiment, making it difficult to sustain recovery, while the Federal Reserve (Fed) decision to pause its…