BTC Could Hit $250,000 This Year As Tech Giants Enter the Crypto Arena

The Bitcoin price suffered a minor drop in the last 24 hours to trade at $81,389 as of 4:50 a.m. EST

The price of Bitcoin dropped slightly in the last 24 hours to trade at $81,389 as of 4:50 a.m. EST on Thursday, while trading volume decreased significantly by 41% to $43.7 billion.

The decrease in the BTC price comes as Charles Hoskinson, founder of the Cardano blockchain, said that Bitcoin could soar as high as $250,000 this year as tech giants like Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) enter the crypto arena.

In an interview with CNBC, Hoskinson remained optimistic about Bitcoin’s future despite recent market turbulence triggered by President Donald Trump’s reciprocal tariffs policy.

According to Hoskinson, Bitcoin’s price could rise higher by the end of 2025 or even next year as tariff concerns fizzle out and Federal Reserve activity influences the market.

The BTC price is currently trading within a descending channel, characterized by a series of lower highs and lower lows since the peak in early 2025. This pattern suggests a downtrend continuation unless a breakout to the upside occurs.

The most notable development on the chart is the Death Cross, which occurred recently when the 50-day Simple Moving Average (SMA) crossed below the 200-day SMA, according to data from GeckoTerminal. This is generally regarded as a long-term bearish signal and often increases selling pressure.

However, the Bitcoin price is currently rebounding off the lower boundary of the descending channel, attempting to challenge the upper trendline as resistance.

The 50-day SMA is at $84,900, while the 200-day SMA is slightly higher at $86,988. BTC price action trades below both SMAs, reinforcing the bearish sentiment.

Meanwhile, the Relative Strength Index (RSI) stands at 47.28, just below the neutral 50 mark. This reading suggests that momentum is still weak but that BTC is not in oversold territory yet, giving the price of Bitcoin some room to recover further within the channel before hitting resistance.

According to BTC/USDT chart analysis, the Bitcoin price is trading in a bearish structure, confined within a well-defined descending channel and under the influence of a recent Death Cross.

Unless the price can convincingly break above the channel’s upper trendline and reclaim the 50-day and 200-day SMAs, the bearish pressure is likely to persist.

Should the price of BTC break above $85,000 with solid volume, it could invalidate the bearish setup and trigger a reversal toward the $90,000–$92,000 region.

On the flip side, failure to break out and a rejection at the channel top may push Bitcoin’s price back toward the channel’s lower boundary, near $72,000–$74,000.