Bitcoin (BTC-USD) advanced to its highest level this month in Monday morning trading amid traders’ expectation the Federal Reserve will keep borrowing costs unchanged later this week.

After changing hands in a narrow range that has dominated for the past month in the wake of historically low trading volumes and low volatility, the first-ever cryptocurrency (BTC-USD) rose 2.8% to $27.2K at 10:29 a.m. ET, the highest mark since August 31.

Other major tokens also saw buying pressure, albeit modest, including ethereum (ETH-USD), perking up 1.6% to $1.65K, XRP (XRP-USD) +0.7%, cardano (ADA-USD) +1.4%, and dogecoin (DOGE-USD) +0.7%.

“Although Bitcoin quickly returned to the previous trading levels, altcoins have not been adequately resilient in recovering previous values,” said Matteo Greco, research analyst at digital asset and fintech investment firm Fineqia International.

“This is reflected analysing the Bitcoin dominance, the metric which expresses the percentage of BTC capitalisation in relationship to the total digital asset market capitalisation. The BTC dominance increased in the past week to 50% from 49.5% recorded on the 11th of September,” he added.

For the upcoming key macroeconomic catalyst, the Fed’s policy-setting Federal Open Market Committee is widely expected to hold rates steady on Wednesday, in a move that’s “expected to have no impact on the market,” Greco said in a note, as “investors have already priced in with certainty that rates remain on hold.”

Indeed, market participants are hedging for a 99% chance the central bank will keep rates at the current 5.25%-5.50% target range, according to the CME FedWatch CME FedWatch Tool. Investors, of course, will listen for any hints about the likely path at following Fed gatherings.

Crypto-exposed stocks gapped up at the time of writing, with Bit Digital (BTBT) +7.7%, CleanSpark (CLSK) +4.8%, Riot Platforms (RIOT) +3.9% and MicroStrategy (MSTR) +2.7% among some of the biggest intraday gainers.