Bitcoin jumped Tuesday ahead of the Federal Reserve’s key rate decision on Wednesday, as traders expect the central bank policymakers to deliver the first interest-rate cut in four years.

Markets are seeing a nearly 70% probability of a bigger 50 bps rate cut to the 4.7%-5% range, up from 25% a month ago.

Since bitcoin peaked at nearly $74,000 in March, the apex token has been unable to regain its momentum. Seasonal factors weakened the spot bitcoin ETF inflows this summer while deteriorating macro conditions drove investors toward safe, risk-off assets.