According to @ReutersBiz, SAP missed third-quarter revenue estimates and its US-listed shares fell about 3%, reflecting an immediate negative market reaction to the earnings headline. Source: Reuters Business tweet Oct 23, 2025 https://reut.rs/3IYsk5D. Given the documented post-2020 increase in correlations between BTC and U.S. equities, traders may monitor whether weakness in large-cap software names like SAP weighs on broader tech sentiment and indirectly on BTC and ETH risk appetite. Source: International Monetary Fund, Crypto Prices Move More in Sync With Stocks, Jan 11, 2022 https://www.imf.org/en/Blogs/Articles/2022/01/11/crypto-prices-move-more-in-sync-with-stocks.