Bitcoin and stock markets surged following a report that Elon Musk, CEO of Tesla and SpaceX, plans to step away from his advisory role with President Donald Trump. Bitcoin climbed to approximately $87,300, marking its highest level since late March. Tesla's stock also experienced a rise of nearly 3%, despite recent struggles with sales and production. The report suggests that Musk's departure as a key advisor is due to concerns that he may be becoming a political liability for Trump, along with a recent Republican electoral defeat in Wisconsin, where Musk financially supported the losing candidate. The report notes that while Musk may not completely exit his advisory role, he will likely step back as his status as a 'special government employee' is set to end soon. This news has implications for both cryptocurrency and traditional markets, as institutional interest in Bitcoin continues to grow.

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