There are several ways to hedge in crypto. No method is perfect and all of them have advantages and disadvantages.
The most simpler and safer method is to convert back to USD/EUR. The main disadvange in doing this is most countries in the world put a tax on crypto to fiat conversion. You might get away in some places that take into account the full in/out values but most of the players avoid fiat for the legislation ambiguity.
Stable coins conversion
You can read more details about stable coins on this dedicated page. All stable coins have an increase risk. Some are backed by shaddy companies that could go bust at any point, some have high withdrawal fees and most are centralized and could block your assets at one point if they chose to. The main advantage is they are still considered crypto allowing to avoid huge taxes in most countries.
Depending on the preffered exchange the shorting mechanism might vary a bit. In principle you short the usd equivalent of the amount you want. If you choose a perpetual swap contract you don’t have to care about rolling forward from one month/quarter to another but you pay higher fees compared with monthly futures. Another disadvantage is the fact that you can easily lose track of the amounts and using a subaccount to isolate the short is the best way to monitor you asset. A big advangate is the fact that you can deposit on exchange between 30-40% of the total amount, or less but spikes are the real danger. On a true crypto volatility day a spike can take your short out if your leverage level is to high, loosing the entire collateral at once. The difference can be stored on a cold wallet, the safest place to keep it long term.
Hedging with options
You can devise a plan to buy PUTS on an exchange like Deribit with about 10% of your desired hedge amount. If the price goes up you are covered by the underlying value of the asset. If the price goes down the PUTS will grealy compensate the loss. Your risk is the premium paid for the PUTS. The expected results is based on the volatility. If the price stays constant at the end of the expiration period you basically lose the entire premium. But if the volatility goes up and the price is above or under a certain threashold you can even make a good profit out of it. The method will probably compensate itself on the long term after 5 to 10 hedges lossing 10% each at most each time but winning 30-50% from time to time.