Hello, I did a field test and I can answer that the blood has 3 stages and each one stay 2 minutes on the floor, so we have a total of 6 minutes for the blood to disappear completely. It works to player's blood and to creature's blood.
First stage: the blue arrow shows the player's blood.
Two minutes later we can see the second stage: the blue arrow shows the player's blood.
Two minutes later we can see the third stage: the blue arrow shows the player's blood, and here we can see the three stages of creature's blood.
Two minutes later the blood disappears.