The price of bitcoin increased back above the $42,000 mark on Friday to a level not seen in more than a week.

The price action caused the liquidation of almost $96 million of cryptocurrency short positions, according to Coinglass data. In the past 24 hours, liquidated bitcoin leveraged positions spiked to over $41 million, with over $37 million of these being shorts.

The largest digital asset by market capitalization has increased by over 5% in the past 24 hours and was changing hands for $42,085 at 1:10 p.m. ET, according to The Block data.

Today's bitcoin uptick comes after a significant amount of bitcoin options expired on Friday. As that expiry approached, there were 94,000 bitcoin options set to expire, featuring a …