According to CoinDesk: Trading firms Jump Trading, Wintermute, and Abraxas Capital sent significant amounts of bitcoin (BTC), ether (ETH), and Arbitrum's ARB token to crypto exchanges during a major crypto market sell-off on Monday. Bitcoin slid to a three-month low, while ether reached its lowest value since March. It is noted that large institutional traders have considerable influence over the market, so smaller traders often monitor their on-chain activities. Although sending tokens to exchanges could suggest intent to sell, market makers may use the transfers to provide liquidity across different platforms. The sell-off coincided with concerns about FTX potentially offloading its $3.4 billion digital asset stash.