Bitcoin

This earnings beat reflects the lagged benefits of the UK's tightening cycle, where net interest margins expand as loan repricing outpaces deposit cost increases. For crypto, it reinforces a macro regime where real yields are attractive, reducing the opportunity cost of holding non-yielding assets. The broader trend of traditional finance outperforming could further suppress crypto risk appetite, especially with BTC dominance already high and altcoins underperforming.

Monzo Bank Ltd. reported a 44% jump in profit for the year through March, driven by growth in lending and higher interest income.

Monzo's 44% Profit Surge Reinforces Traditional Banking, Pressures Crypto

Monzo’s profit surge is actually bearish for crypto — it validates the traditional banking model at a time when crypto needs a crisis to attract capital.