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.

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.

The largest digital currency gained as much as 6.4% to $61,337 on Tuesday, the biggest intraday increase since August 8. Smaller cryptocurrencies such as Ether, Dogecoin and Solana also rallied