1 out of 3 $ETH has now been staked.

But what other tokens have a high staking ratio?
$APT - 96%
$SUI - 77%
$XTZ - 68%
$SOL - 67%
$ADA - 62%
$ATOM - 59%
$DOT - 56%
$AVAX - 52%
$TRX - 48%
$NEAR - 45%
$TIA - 44%
$ETH - 33%
$BNB - 19%
This is an all time high for Ethereum. The supply available in the market is shrinking every single day.
A high staking ratio locks up supply and can tighten what is actually tradeable. But it is not automatically bullish.
On chains like $APT and $SUI, a large share of that stake is foundation and locked tokens, not the free market choosing to commit.
And staked supply is not gone. It can unstake and return to circulation the moment yields or sentiment shift. Ratio alone does not move price. What matters is whether real, sellable supply is truly leaving the market, or just parked.