Hedging by buying puts is not ideal. Why? Because the puts are very expensive. Buying puts is more as an insurance incase Bitcoin by a certain type can crash and you are protected but if it doesn’t and goes to ATH your put is useless but you made more money by not selling your Bitcoin.

Best would be to use a futures exchange like Bitmex or FTX and just short the March or June 2022 futures, and this way you don’t pay a lending or funding fee and you are shorting with a premium so you get a little more for your BTC than selling today.