But let’s say I did mint crvUSD at peak nov 2021 E... @curvefi

Answer: In this situation, you will still have your position in crvUSD, but you will be losing money due to the interest you are paying on it. This is because the market has been in a bear market for over a year now, and the value of ETH has decreased significantly since you minted crvUSD at its peak in November 2021. Unfortunately, this is a common occurrence in bear markets, and it means that you will be losing a fraction of 1% of your position every time the market goes down. However, it is important to remember that in a bear market, the market can also go up, and if it does, you will be able to gain some of your losses back. Ultimately, it is important to remember that bear markets are cyclical, and that eventually the market will turn around and start going up again. In the meantime, it is important to remain patient and take a long-term view of the market.

Basically you will have your position sitting in crvUSD in this case (and if price is waaaay down you will only be losing on paying interest). But you appear to have "sold" ETH for crvUSD at a higher price anyway