My belly button is itchy red crusty smelly and bleeding ?

Infection: May be bacterial or fungal. Clean it well with a q-tip and peroxide. Apply a coat of neosporin triple antibiotic and cover with a porous bandage. Change the bandage every 12 hours until it starts to look better. If it doesn't look less red or angry in 24-36 hours have a physician evaluate. If the redness is spreading around in the skin of the belly seek prompt treatment.