In the Old Testament Levitical offerings, animal blood was the basis for setting up a representative analogy, or a teaching aid (remember, in ancient times most people could not read). The animal blood in itself had no value, but was used to demonstrate the future sacrifice of the innocent Lamb of God (Christ) on the cross (the coverings the Lord made Adam and Eve after they had sinned was the first demonstration of His future sacrifice for us). Therefore, when the blood of Christ is mentioned in the New Testament, it is a reference to Christ’s spiritual death on the cross in our place—the saving work of our Lord (Romans 5:9; Ephesians 1:7; 1 John 1:7; Hebrews 13:12, 1 Peter 1:19; Revelation 1:5).
To satisfy the Father, Christ had to die spiritually (He was made sin for us), in our place so that we could be made spiritually alive at the point of personal salvation. He did not bleed to death. If He had, it would not be the spiritual death the Father required. If the cost of salvation were merely His blood, then yes, He would have had to hang there until He bled to death, and our salvation would be us covered by His literal blood. It was not a blood sacrifice, it was a spiritual one.
The physical death of the sacrificial animal represented the physical and spiritual death of Christ. The Lord’s physical death occurred after salvation was completely finished and He dismissed His own Spirit into the presence of the Father. He did not continue on the cross, waiting until He bled to death. The work was accomplished, so there was no further reason to hang there in agony.
It is Christ’s spiritual separation from the Father and the Holy Spirit that saves.
Happy Studying!