ANSWER: The blood of Jesus, which symbolizes his complete and perfect sacrifice for our sins, is one of the main focal points of the Bible. His central role in God's plan to redeem humans was foretold in the Garden of Eden and represents Scripture's first recorded prophecy (Genesis 3:15).
Why is blood referenced in relationship to the death of Jesus? The primary reason it is used is that it makes a flesh-based life possible (Genesis 9:4, Leviticus 17:11, 14, Deuteronomy 12:23).
It was absolutely necessary that one member of the Godhead become human, live a perfect life in spite of temptations to sin, then offer their blood (their life) as payment for all sins (Hebrews 2:17, 4:15, see also our article on why God had to die).
The shedding of Jesus' blood represents the highest expression of perfect love the Godhead could ever offer. It is a living testament to God's willingness to do whatever it took to make possible an eternal relationship with us.
It is interesting to note that the final act that brought an end to the life of Jesus was a spear, thrust in his side, that caused him to lose his blood as a complete fulfillment of the Passover lamb (John 1:29, 1Corinthians 5:7, Matthew 27:49, HBFV).
True Christians are commanded to commemorate, ever year, the death of Jesus through partaking two simple symbols of his sacrifice. The Christian Passover service, celebrated once a year, is kept using unleavened bread and wine which represents his life he willingly offered for our sake (Luke 22:15 - 20, 1Corinthians 10:16 - 17, 1Corinthians 11:23 - 34).
The Bible states that through the blood of Jesus we are forgiven and redeemed from our sins (Ephesians 1:7). His sacrifice reconciles us to God and brings peace between us (Ephesians 2:13, Colossians 1:20). It gives us direct access to our heavenly Father without the need of a human mediator or priest (Hebrews 10:19).
The blood of the Lord allows us to be freed from a life dedicated to sin that leads to futility (1Peter 1:18 - 19). It makes possible the purging of our consciences from the guilt of past sins so that our whole heart can be dedicated to righteousness (Hebrews 9:14).
How does Jesus' blood save us from God's wrath? It acts as a covering over all our sins so that God does not see them but instead sees the righteousness of His Son. Paul states, "Much more, therefore, having been justified now by His blood, we shall be saved from wrath through Him" (Romans 5:9, HBFV). Because Jesus now lives as our constant Advocate (1John 2:1) and High Priest in heaven, our lives are saved and we will live (Romans 5:10).
What are the eternal benefits of the blood of Jesus? His sacrifice makes available God's Holy Spirit to those who repent. Those who have the spirit are true Christians whom the Father considers to be his spiritual sons and daughters (John 1:12, Romans 8:16, etc.).
At his Second Coming Jesus will return to earth, in a vesture dipped in blood (Revelation 19:13), and overcome the powers of evil. He will resurrect all those that have been faithful and give them new spirit bodies. They will also receive never-ending life (Luke 20:34 - 36, 1Corinthians 15:52 - 55, 1John 5:11). The good works they carried out will be rewarded (Matthew 6:1, 16:27, Luke 6:35).