This is a great art piece! I think the main reason I like it so much is because you really get a sense that the whale is bleeding. It doesn't even look like blood that much. It looks more like the whale is being attacked by some red monster from the sky. Maybe that was the intention? I think I can clearly see a stab wound on the side of the whale's body. Oddly enough, there isn't any blood coming out of it.
Now that I look closer, there appear to be some more. I think the red is more of a sea monster or sea serpent that's attacking the whale and it looks like it's coming from the sky! Maybe that giant storm cloud is creating it and sending it down? Whatever it means, this is just an impressive art piece. Captain Ahab would be proud.