The cryptocurrency market is experiencing concerns about a significant Bitcoin price decline. With ‘Redtember’ approaching, investors are bracing for potential further drops. Following the recent peak of $123,000, Bitcoin has entered a rollercoaster ride with its price currently below $110,000. This dip below the critical mark raises questions if it is merely a prelude to a larger market downturn. 1.38% down on the day, BTC stands at $108,505. Over the past week and month, Bitcoin experienced notable plummets of 6.5% and 8.5%, respectively. Despite this negative sentiment, traders are increasingly active with a 14% surge in trading volume to reach $74.3 billion over the last 24 hours. Crypto analyst Ali Martinez recently highlighted on X potential for a severe Bitcoin price crash, citing the next support level around $91,840. If BTC falls below $110k, it increases the chance of breaching the $100,000 mark. 2023 has witnessed significant bearish trends impacting investor confidence and adding fuel to the concerns. 2023 has also seen a history of September volatility for Bitcoin with negative returns being reported in numerous years.