$ETH | SatoshiMacro's Ethereum cycle model reads 43.5 today, Neutral, right after its validator and staking tier went fully live as the sixth input. On the desk the first question on a new series is whether it tracks the cycle, not adoption. 36.2 percent of ETH supply is staked for an implied 2.79 percent yield, 5,200 validators queue to enter, and that staking tier scores just 14.9, lowest of the six, while rotation (ETH/BTC ratio, dominance, altcoin season) reads 63.5. My read: the gap between tiers matters more than one number. Staking signals only carry meaning from the beacon chain's 2020-12-01 genesis onward. The model reports cycle position, not a price forecast. Refreshed twice daily, Sydney time.
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