On Tuesday, June 20, the majority of the leading crypto tokens rose while a few modestly decreased. The bitcoin market is still hopeful that BlackRock's application for an exchange-traded fund to invest in bitcoin spot will be approved. The most recent downturns are anticipated to be in a phase of correction.

After taking a profit, Bitcoin returned to the black as the largest cryptocurrency climbed more than 2% and was just shy of the USD 27,000 barrier. Its biggest rival, Ethereum, was also up, rising by approximately 0.5 percent but staying below the USD 1,750 mark. Altcoin price movement, however, was inconsistent.

In the past day, there has been some favourable price movement in the cryptocurrency markets.The crypto fear and greed index has also increased by 2 points and now has a score of 49, remaining in the neutral range. According to Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, BlackRock's development appears to have given the markets a boost by boosting investor optimism and activity.

"The UK parliament has approved a bill that calls for stricter crypto laws. Before being introduced as legislation, the Financial Services and Markets Bill (FSMB) is now in its final phases. The bill considers stablecoins under UK payment rules, treats all cryptocurrency as regulated activity, and suggests mechanisms to oversee crypto advertising, he continued.

Top cryptocurrency tokens traded in a mixed manner on Tuesday, with a strong bullish tilt. Solana increased by roughly 4%, whereas Polygon increased by 2%. Shiba Inu and Dogecoin each added 1%. Polkadot and Tron both experienced declines of more than 1% among the losers.

The market capitalization of all cryptocurrencies was up, trading at USD 1.08 trillion, up more than 1% in the previous day. The entire trade volume did, however, increase by nearly 34% to USD 27.69 billion.

As investors keep a watch on regulatory concerns involving the crypto markets, the price of bitcoin has been declining recently. According to CoinDCX Research Team, the SEC's action against Ripple Labs has put a shadow over the entire market.

"The SEC has also pursued legal action against Binance, one of the biggest cryptocurrency exchanges in the world. The anticipation of Federal Reserve interest rate increases has added to these regulatory worries. In an effort to battle inflation, the Fed is anticipated to raise interest rates this year, as per reports.

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