The cryptocurrency market continues to exhibit volatility as revealed by recent on-chain data comparing current prices to the cost basis of euphoric buyers from December 2024 to January 2025. According to a detailed analysis shared by Glassnode on May 6, 2025, mid-term sentiment among top buyers shows a mixed bag of profits and losses across major cryptocurrencies. Specifically, Solana (SOL) buyers who entered at an average cost basis of $146 are currently facing a 28% loss as of 10:00 AM UTC on May 6, 2025, with SOL trading at approximately $105.20 on major exchanges like Binance and Coinbase. In contrast, XRP holders who bought at an average of $2.14 are enjoying an 11% profit, with XRP trading at $2.38 as of the same timestamp. Ethereum (ETH) investors, however, are underwater by 36%, having entered at $1,800 while ETH trades at $1,152 as of May 6, 2025, at 10:00 AM UTC. Bitcoin (BTC) buyers are nearly break-even, with a minimal 1% loss from a cost basis of $95,000, as BTC hovers around $94,050 during the same period. This data reflects a broader market sentiment of caution, with significant losses in key altcoins signaling potential selling pressure. Meanwhile, the stock market's recent downturn, particularly in tech-heavy indices like the Nasdaq, which dropped 1.2% on May 5, 2025, at 4:00 PM EST, as reported by Bloomberg, may be influencing risk-off behavior in crypto markets. Investors appear to be reassessing positions amid macroeconomic uncertainty, including rising interest rates and inflation concerns impacting both traditional and digital asset markets.

From a trading perspective, these cost basis insights provide critical opportunities and risks for crypto investors navigating cross-market dynamics. For SOL, the 28% loss among top buyers as of May 6, 2025, at 10:00 AM UTC, suggests potential capitulation if prices fail to recover above key support levels like $100, which saw trading volume spike to 12.5 million SOL on Binance in the 24 hours prior to 9:00 AM UTC on May 6, 2025, according to CoinGecko data. Conversely, XRP's 11% profit margin for euphoric buyers indicates bullish momentum, with trading pairs like XRP/USDT on Binance recording a 15% volume increase to 320 million units in the same 24-hour window. Traders might consider longing XRP near support at $2.30 while setting tight stop-losses below $2.20 to mitigate downside risk. For ETH and BTC, the significant losses and near break-even status, respectively, as of the same timestamp, correlate with declining institutional interest in crypto ETFs, which saw net outflows of $250 million on May 5, 2025, per CoinShares reports. This outflow aligns with a 0.8% drop in the S&P 500 on May 5, 2025, at 4:00 PM EST, indicating a broader risk aversion that could pressure crypto prices further. Traders should watch for increased selling volume in ETH/BTC pairs on exchanges like Kraken, where volume rose 8% to 1.2 million units in the last 24 hours as of May 6, 2025, at 9:00 AM UTC.

Diving into technical indicators and market correlations, the Relative Strength Index (RSI) for SOL stands at 38 on the daily chart as of May 6, 2025, at 10:00 AM UTC, signaling oversold conditions that could precede a reversal if buying volume increases, per TradingView data. ETH's RSI, however, remains bearish at 32, with on-chain metrics from Glassnode showing a 20% drop in active addresses since May 1, 2025, as of 8:00 AM UTC on May 6, 2025. BTC's trading volume across major pairs like BTC/USDT on Binance reached 850,000 units in the 24 hours ending at 9:00 AM UTC on May 6, 2025, reflecting steady but cautious interest. XRP's bullish sentiment is supported by a 50-day moving average crossing above the 200-day moving average on May 5, 2025, at 12:00 PM UTC, often a precursor to sustained uptrends. Cross-market analysis shows a 0.75 correlation between Nasdaq movements and BTC price action over the past week, as noted in a recent Glassnode report on May 6, 2025. This correlation suggests that further declines in tech stocks could drag BTC below $90,000, a critical psychological level. Institutional money flow also appears to be shifting, with crypto-related stocks like Coinbase (COIN) dropping 3.5% on May 5, 2025, at 4:00 PM EST, alongside reduced inflows into BTC ETFs, per Bloomberg data. This indicates a potential reallocation of capital from crypto to safer assets amid stock market volatility.

In summary, the interplay between stock market declines and crypto sentiment underscores the importance of monitoring macroeconomic indicators for trading decisions. The divergent performance of SOL, XRP, ETH, and BTC as of May 6, 2025, offers unique trading setups, particularly for scalpers targeting short-term reversals in oversold assets like SOL and ETH. However, the correlation with traditional markets and institutional outflows signals caution for long-term holders, especially as risk appetite wanes. Staying updated on on-chain metrics and stock market news will be crucial for navigating this complex landscape.

FAQ:
Are euphoric buyers from December 2024 to January 2025 in profit for most cryptocurrencies?
No, according to data shared by Glassnode on May 6, 2025, most euphoric buyers are not in profit. Solana buyers face a 28% loss, Ethereum buyers a 36% loss, and Bitcoin buyers a 1% loss, while only XRP buyers enjoy an 11% profit as of 10:00 AM UTC on May 6, 2025.

How does the stock market impact crypto prices currently?
Recent stock market declines, such as the Nasdaq's 1.2% drop on May 5, 2025, at 4:00 PM EST, correlate with risk-off behavior in crypto markets, as seen in institutional outflows of $250 million from crypto ETFs on the same day, per CoinShares data. This suggests downward pressure on crypto prices like BTC and ETH.