From Old Norse blóð, from Proto-Germanic *blōþą (“blood”)
From Proto-Germanic *blōþą, of unknown origin. Cognate with Old Frisian blōd (West Frisian bloed), Old Saxon blōd (Low German
Bloot),
Old Dutch bluot (Dutch bloed), Old High German bluot (German Blut), Old Norse blóð (Swedish
blod), Gothic 𐌱𐌻𐍉𐌸 (blōþ).
Blod means Blood, it's that simple.
Nothing really that can be used as an insult as the other totally made up definitions found in this "Dictionary" ...
However it also has this other definitions:
From Middle High German
blode, from Old High German blōdi, from Proto-Germanic *
blauþ
ijaz, *blauþaz (“weak, soft, timid”). Cognate with Old English blēaþ (“gentle, shy, cowardly, timid; slothful, inactive, effeminate”) and English
blate (“bashful, stupid”) and bloat (“be swollen, be worthless”).