And they have conquered him by the blood of the Lamb and by the word of their testimony, for they loved not their lives even unto death.

Rev. 12:11 ESV

The blood of Christ is clear confirmation that Christ died a sacrificial death to pay for our release from the captivity of sin and bondage to Satan’s schemes. In other words, we owe our salvation to the death of Christ. His blood removes our guilt before God (1 Pet. 1:18-19), cleanses ours stricken consciences (Heb. 9:14), gives us bold access to the Father (Heb. 10:19), on-going cleansing from our sin (1 John 1:7) and conquers all of Satan’s accusations (Rev. 12:10-11). Jesus’ blood condemns death and in that death, the penalty of our sin was paid.

The Blood is for atonement and has to do first with our standing before God. We need forgiveness for the sins we have committed, lest we come under judgment; and they are forgiven, not because God overlooks what we have done but because He sees the Blood. The Blood is therefore not primarily for us but for God.

If I want to understand the value of the Blood I must accept God’s valuation of it, and if I do not know something of the value set upon the Blood by God I shall never know what its value is for me. It is only as the estimate that God puts upon the Blood of Christ is made known to me by His Holy Spirit that I come into the good of it myself and find how precious indeed the Blood is to me. But the first aspect of it is Godward.

Watchman Nee, The Normal Christian Life (Fort Washington, PA: CLC, 1985), 17.