According to Odaily, recent data reveals that the percentage of ETH supply in a profitable state (7DMA) has dropped to 85.66% over the past week, marking its lowest point since November 2023. Three weeks ago, this figure was at 94%, but it has since seen a significant decline, likely due to a broader market sell-off during this period, which led to a price drop of over 30% for ETH. This trend further supports the view that the current price of ETH is below the cost basis for most buyers this year. However, it is important to note that despite this figure being at its lowest in 2024, it does not necessarily indicate that the majority of ETH holders are in a net loss position for the year so far.