The crypto market is trading lower on August 13 as renewed geopolitical uncertainty weighs on risk assets, offsetting the positive impact of softer U.S. inflation data.

Bitcoin (BTC) has slipped below $64,000, while Ethereum (ETH) and most major altcoins are also in the red. Hyperliquid (HYPE) is the exception among the top 10 cryptocurrencies, gaining as traders react to reports of a possible U.S. expansion for its perpetual futures market.

The latest market weakness comes despite July U.S. inflation falling to 3.4%, which has reduced expectations for another Federal Reserve rate hike in September.

Why is the crypto market down today?

The main pressure on crypto markets today is renewed geopolitical uncertainty.

Iran reportedly said there…