Take him to the vet right away.
Peeing blood is not a good sign.
Cats often get urinary tract infections. It could have gone to the kidneys. If the kitten is otherwise strong, it should respond well to treatment.
If you are potty training and the kitty doesn't have the hang of it, it could be retaining it's urine which can take on a deep orange color.
Be sure to get the kitty in to the vet or at least contact them to get some medication right away.
Don't wait. Don't assume that the kitten drinking more will help. Sometimes they can't get rid of their urine if they have an infection and a little IV can help to rehydrate them.
Document amounts of liquid ingested, amounts evacuated if possible, color, odor, frequency, etc.
Contact a vet. New kittens can be pretty fragile but bounce back with the proper care.
Best wishes.