Hedging has two situations: one is that you want to buy, for example, you want to buy Bitcoin, but you are afraid that Bitcoin will soar in the future, and buying later will result in a loss. You can go long on Bitcoin futures. When Bitcoin rises at expiration, you make a profit on your contract. If Bitcoin falls, although you lose on the contract, you can buy the spot at a low price (this reduces your risk of purchasing Bitcoin); the second is that you want to sell, for instance, selling BAS, but you are afraid that BAS will fall in the future. For example, right now, if you sell now, you will incur a loss, so you can short BAS futures. When BAS falls at expiration, you make a profit on the contract.