I just responded on a similar type of topic where the OP showed the same concerns, basically I just to think about another cause of this outflow is Binance fuds, as we all know when Binance was sued and blocked by Binance, and now Nigeria, people started to withdraw there funds from CEXs,
This is exactly what I thought.
Immediately I saw the news I knew a lot of people would move their coins out of Binance. The same thing happened when they had issues in the US. Binance has a lot of customers from Nigeria and with the current issues they have with the government, it's only wise that people withdraw their funds immediately.
Also, people are buying Bitcoin this period and most people buy from CEX and then transfer the funds to their wallets. It is expected that a lot of Bitcoin will move out of CEX during this period. A lot of trades are going on now too and a lot of these coins will be moved out of the exchanges.