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You won’t see a direct immediate correlation. The upwards pressure on watch prices has been driven by multiple factors including production shortages, covid cash, inability to spend money on other luxuries, low interest rates etc. And yes, high stock markets and crypto gains.
Social media fuelled the fire/ hype and the impact was felt on demand and prices for other items - property, car, stock markets, watches, even LEGO…
Bitcoin is an obvious example because it’s easy to spend gains gradually on watches where it is accepted as payment instead of translating it directly into cash. Less scrupulous people may view this as a convenient way of trying to avoid tax.
You’ll never see an immediate direct correlation though as too many other factors at play. It’s like asking why ice cream prices haven’t gone up because it was sunny last week.
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