Bitcoin rallied to a new all-time high on Monday as investors awaited an expected interest rate cut by the Federal Reserve later this week.

The price of the flagship cryptocurrency was last higher by nearly 3% at $106,126.74, according to Coin Metrics. Earlier it rose as high as $107,229.38, a new record. Ether rose 3% to break through the key $4,000 level. The broader crypto market, as measured by the CoinDesk 20 index, traded more than 1% higher.

Crypto stocks gave back earlier gains. Coinbase rose more than 1%. Shares of bitcoin proxy MicroStrategy fell below the flat line after jumping as much as 7%, following the Friday evening announcement that MicroStrategy will join the Nasdaq-100 stock index and heavily traded QQQ ETF later this month.