Long Bitcoin, short BCH, can it become a decent hedge in the near term?

The whales who were long on the ETH to Bitcoin exchange rate have given up and exited; the bulls on Ethereum are in a cooling-off period.

The retracement trend of Bitcoin has become quite clear, and if no hedging is done, the exposure is truly immense.

This small transparent BCH finally has a chance to be useful.

STX could have been a hedge, but it has been underperforming recently, with limited gains and significant retracement. It's no longer suitable for hedging.

What other altcoins can hedge against Bitcoin? Recommendations are welcome.