Why the Rolex rally is on pause in 2025
The following is a guest post and opinion from Gracy Chen, CEO of Bitget.
There was a time not too long ago when the pulse of the crypto market could be measured not only by candlestick charts but by the waitlists at luxury watch boutiques. During the 2020–2022 bull cycle, the correlation between Bitcoin and high-end collectibles — especially steel sports watches from brands like Rolex and Patek Philippe — was so strong, it practically became a meme of its own. When Bitcoin hit $69,000, the Nautilus 5711 traded for over $240,000 on secondary markets. WatchCharts and Bitcoin price curves looked eerily similar, just with a lag.
At that time, crypto wealth creation was rapid, exuberant, and visible. Traders were turning six-figure…
