Bitcoin’s (BTC) sell-off deepens on Friday, with the spot price below $69,000. The largest crypto by market capitalization leads the intense selling, with Ethereum (ETH) below $2,000 and Ripple (XRP) hovering just above $1.00.

Oversold conditions don’t appear to be easing the pressure, which has persisted since the $6.3 billion Binance hack and the United States (US) midterm elections.

Risk-off sentiment persists

The broader cryptocurrency market is seeing subdued interest, as reflected in the Fear & Greed Index at 20 in the Fear territory on Friday, down from 20 in the Extreme Fear range the day before. This outlook suggests investors are retreating to the sidelines and repositioning portfolios amid sticky US inflation.