The Dow Jones chart, explained

FRED series

DJIA

the index level as published

Default frequency

Daily

weekly through annual also selectable

Overlay

Bitcoin

CoinGecko daily price, on by default

Shows

The index itself

no score layered on top

A traditional-markets (trad-fi) comparison chart. It plots the Dow Jones Industrial Average — the oldest continuously published US blue-chip index, tracking 30 large, established American companies — alongside Bitcoin’s price on the same timeline, so you can see for yourself how closely the two have tracked each other through a given stretch of market history.

Unlike the on-chain and macro charts elsewhere on this platform, that’s all it does. There is no derived score sitting behind it, no colour-coded risk zone, no threshold that flips a label from "bullish" to "bearish". It is two price series, plotted together, and left for you to read.

The index line comes straight from the Federal Reserve Economic Data (FRED), series id DJIA — the raw index level as published each day, with no seasonal adjustment applied to it. We plot the figures FRED publishes exactly as they come: nothing is recomputed, smoothed, or rebased.

The Bitcoin overlay comes from somewhere else entirely: daily BTC price history from CoinGecko, drawn on the chart as a second line with its own scale. The two are put side by side for you to compare — no calculation joins them.

The Dow is price-weighted, not market-cap-weighted. A stock trading at a higher share price moves the index more than a stock with a much larger total market value — a company can be enormous by market cap and still carry less weight in the Dow than a smaller company whose shares simply trade at a higher dollar price. That's a different mechanism entirely from the NASDAQ Composite or S&P 500, which weight by total company value.

It also only tracks 30 companies — a small, curated, and periodically reshuffled list of large, established US businesses, tilted toward industrials, financials, healthcare and consumer names rather than the fast-moving tech names that dominate the NASDAQ. That narrower, older-economy composition is exactly why it's framed as a slower read next to Bitcoin: fewer names, a different weighting mechanism, and a sector mix built around a century of established corporate America rather than growth-stage tech.

As the oldest major US index, the Dow carries outsized recognition in general financial media — when headlines describe "the market" falling or rallying, they're very often talking about the Dow specifically. Because it's weighted toward large, established blue-chip companies rather than high-growth tech, it's commonly treated as a proxy for broader institutional and traditional-investor sentiment, moving on the same macro forces — rates, growth expectations, broad risk appetite — that also drive flows into and out of Bitcoin.

That is a widely referenced pattern rather than a number this chart calculates. The comparison here is visual — you see both lines in full — and how tightly they have moved together changes considerably from one stretch of history to the next.

A timeframe selector (1Y / 5Y / 10Y / MAX), a frequency selector that mirrors FRED's own options — daily, weekly, biweekly, monthly, quarterly, semi-annual, annual — and a separate scale toggle for each line. Linear spaces the axis evenly in dollars; logarithmic spaces it by percentage change, so early moves stay readable next to much larger recent ones. The Bitcoin overlay itself can be switched off entirely from the legend if you just want the index on its own.

Thirty stocks, price-weighted, over a century old — the Dow is the slow needle on the dashboard, not the one you watch for a sudden swing.

Zoom out before drawing conclusions. A short window can make the two lines look either tightly bound or completely unrelated depending on which few weeks you land on. The MAX timeframe is the place to start.

Treat co-movement as a prompt, not a verdict. When both lines fall together, that's a cue to go check what's actually driving it — rates, liquidity, a broad equity selloff — rather than a signal to act on by itself. And because the Dow moves more slowly and narrowly than the NASDAQ, a divergence between the two trad-fi charts is often more informative than either one alone.

The Dow Jones chart is a context tool, not a timing or valuation one. It doesn't score Bitcoin, it doesn't flag zones, and it isn't built to predict anything on its own — it exists to let you see the slower, blue-chip end of the trad-fi backdrop Bitcoin is trading against.

It also sits outside both composite scores on this platform. Neither the Bitcoin nor the Ethereum Heatmeter's weighted-indicator list includes a Dow Jones or any other equities input — both are built from on-chain, price-structure, sentiment, and macro data, but no equity index of any kind. So unlike MVRV or the Pi Cycle Top, the Dow stands on its own here. Read it next to the rest of the board — including the NASDAQ chart, if you want the faster-moving tech-sector read alongside this slower one.

Others in traditional markets — What equities and institutional flows are doing next to crypto.

• Spot ETF FlowsDaily net money in and out of spot crypto ETFs, per fund and per asset.
• S&P 500The benchmark US index, plotted against Bitcoin so correlation is visible rather than assumed.
• NASDAQ CompositeThe tech-weighted index Bitcoin has tracked most closely in risk-on and risk-off swings.

Every indicator we track — the full glossary.