First question...did you help it out of the egg? Usually ambilical bleeding is from being helped out too soon.
Second question....how bad is the bleeding?
Usually if you rinse the area in warm water, pat dry the bleeding stops. I would dab a little iodine on the area to help dry up the cord, then keep a eye on it for a few days. We had a chicken do the same thing a few years ago, he got his caught in the wire in the bottom of the incubator