The rich club coefficient $\phi(k)$ quantifies whether high-degree nodes interconnect more densely than expected, but it is blind to the structure of those interconnections and offers no principled way to select the degree threshold $k$. We introduce the *cycle core* $H_k$, the maximal subgraph of vertices with degree at least $k$ that forms cycles among themselves. The nested sequence $H_1 \supseteq H_2 \supseteq \cdots$ reveals how the cycle core evolves as the degree threshold increases, capturing structure that $\phi(k)$ cannot see. We develop two spectral tools for this sequence. The first is structural: the *$k$-blocking operator* $\mathbf{M}_k$ generalizes the non-backtracking matrix by blocking $k - 1$ directions at each node. We prove that its spectrum is equivalent to that of a modified non-backtracking matrix weighted with a specific function of the nodes' degrees. Thus, $\mathbf{M}_k$ couples cycle structure with the degree sequence of the graph. We show the spectral radius of $\mathbf{M}_k$ peaks at an intrinsic threshold $k^*$, yielding the *optimal rich club* $H_{k^*}$ without null models or parameter tuning. The second tool is dynamical: the $k$-blocking walk defines a sub-stochastic Markov chain whose leading eigenvalue $\lambda_1(k)$ measures how long a process can persist on the cycle core before being expelled to the periphery. We evaluate the framework on fifteen networks spanning different domains, wherein $H_{k^*}$ closely recovers the published rich clubs.