Trump used the word "bloodbath" in a speech recently, and now social media is abuzz talking about it.
For once I think it's being taken out of context. Trump was talking about the automobile industry, China building cars in Mexico and then selling them to America with lower taxes than if they were coming from China, or something. He said that if democrats win there will be a bloodbath. If you look up "bloodbath" in the dictionary, you'll see one of it's most common non-literal uses is about the stock market. Trump was very clearly talking about how bad things would be for the automobile industry without him in power.
He's probably lying about some of those details, and he's absolutely wrong about being good for the economy, but there's no reason to suspect that this specific remark was a threat of violence. Trump is an idiot who has no concept of framing or word choice. He rambles and says whatever comes into his head. His dog whistles aren't clever double-meanings.
I don't think he deserves credit for actually having context that could explain his statement. Usually when his follower claim "but you're taking it out of context" there is no context. They cannot explain how what he said wasn't what he actually said, because he's a big dumb-dumb who says the quiet part out loud. It actually makes him look stupider for this to be an unintentionally horrible choice of words, and since being dumb as a sack of wadded up fast food wrappers is typical of Dolt 45, I'm going to assume that the dumbest explanation is the most likely one.