The earnings reports from companies in the S&P 500 on October 23-24, 2024, had a positive influence on both the S&P 500 and Bitcoin, largely due to a combination of earnings surprises and stronger-than-expected performances in key sectors.

Many companies exceeded analysts' expectations, with over 80% of those reporting so far surpassing earnings estimates, particularly in the Financial, Healthcare, and Consumer sectors. This strong performance boosted market confidence and led to increased market liquidity. The positive sentiment in equity markets, particularly when large-cap companies post strong earnings, often spills over into alternative asset classes like Bitcoin, as investors look for diversification opportunities.