Black hole X-ray binaries in the quiescent state (Eddington ratios typically 10) display softer X-ray spectra (photon indices ) compared to higher-luminosity black hole X-ray binaries in the hard state (). However, the cause of this softening, and its implications for the underlying accretion flow, are still uncertain. Here, we present quasi-simultaneous X-ray and radio spectral monitoring of the black hole X-ray binary MAXI J1820070 during the decay of its 2018 outburst and of a subsequent re-flare in 2019, providing an opportunity to monitor a black hole X-ray binary as it actively transitions into quiescence. We probe 1-10 keV X-ray luminosities as low as erg s, equivalent to Eddington fractions of . During its decay towards quiescence, the X-ray spectrum of MAXI J1820070 softens from to , with the softening taking d, and completing at erg s ($\approx10^{-5} L_{\rm Edd}$). While the X-ray spectrum softens, the radio spectrum generally remains flat/inverted throughout the decay. We also find that MAXI J1820070 follows a radio () – X-ray luminosity correlation of the form $L_{\rm R} \propto L_{\rm X}^{0.52\pm0.07}$, making it the fourth black hole system to follow the so-called `standard track’ unbroken over several (in this case, four) decades in . Comparing the radio/X-ray spectral evolution(s) with the – plane, we find that the X-ray softening is consistent with X-rays produced by Comptonization processes in a radiatively inefficient accretion flow. We generally disfavor X-ray emission originating solely from within the jet, with the possible exception of X-rays produced via synchrotron self-Compton processes.

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