As of right now bitcoin depends pretty heavily on SHA256 and with hash functions being quite important cryptography primitives, there's always ongoing work on breaking them (tremendous upside to anyone who can manage to break common ones), so it's pretty feasible that eventually it will be broken. (We've already seen the fall of MD5 and SHA-1 in recent-ish years)
However, cryptocurrencies are a human system as much as they are a computing technology. If weaknesses start being discovered SHA256 or the EC signing of bitcoin, then in all likelihood they'd just fork the chain and upgrade the hash or signing mechanism.