Ross Gerber blames scam tokens as Bitcoin falls below $70,000; analyst warns of $42,000

In a February 7 X post, Tesla investor Ross Gerber said the surge of scam and low‑quality tokens has undercut confidence and helped push Bitcoin below $70,000 last week. He also cited fading catalysts, ETF outflows, and leverage-driven liquidations. Separately, analyst Chiefy predicted a potential slide toward $42,000, with BTC then trading above $69,800.