According to IntoTheBlock, the percentage of profitable ETH holders dropped to a low of 46% during the recent bear market, compared to just 3% after the 2017 cycle. This contrast highlights the greater resilience of the current Ethereum cycle, as many holders remain profitable even during economic downturns. This reflects a stronger belief in the long-term value of ETH. During the 2019/2020 period, the number of profitable ETH addresses had fallen to under 10%. While a similar situation could potentially lead to a return to the lows of the bear market, current market conditions suggest that any downturn is unlikely to be as severe.