It seems that the latest trend of large withdrawals came about in 2017. Perhaps after the bitfinex and tether investigations were launched. It could take time for consumer confidence to be restored in crypto exchanges.
Well at that time there were only investigations on Tether and Tether never collapsed. But this time is different as FTX collapsed and people lost a lot of funds in the exchanges.
So it will take some time while people will regain confidence in this market. However, bitcoin and crypto are not going anywhere. However, I don't see people will regain trust in centralized exchanges and that is overall good for the market. People never listen before but now everyone agrees to keep their funds in their own decentalized wallets.