Market makers selling the options may need to buy more bitcoin in the spot market to cover their positions if the cryptocurrency rises further.
This full article can be read on Coindesk here: https://www.coindesk.com/markets/2023/03/30/bitcoin-options-worth-4b-will-expire-on-friday-heres-is-why-it-matters/?utm_medium=referral&utm_source=rss&utm_campaign=headlines