Bitcoin has dropped below the critical $100,000 mark, establishing it as a new resistance level, according to trader Eugene Ng Ah Sio. Ng highlighted that the breach was due to the breaking of the 50-week moving average, a key support in the current bull market, marking a significant event not seen in 22 years. Additionally, the psychological significance of the $100,000 level, which has been breached multiple times before, reinforces its role as a resistance point. Ng indicated he will not buy the dip, instead focusing on $90,000 as the next key level.