The Bleeding Phoenix is one of the Dreadgods on Cradle. Like the other Dreadgods, it spends the majority of its time in a deep slumber that can last centuries. It is described as an impossibly large phoenix with feathers that ooze like drops of blood and shapeless, glowing white eyes. Its madra affects any blood spilled nearby, animating it into a humanoid bloodspawn that seeks out additional targets to attack.
The Bleeding Phoenix is the only Dreadgod that can be physically destroyed. When defeated, the Bleeding Phoenix molts thousands of its feathers as Blood Shadows that scatter far and wide. Each Blood Shadow carries a fragment of the Dreadgod's consciousness. When a Blood Shadow finds a powerful sacred artist, it latches on to their core as a parasite and begins feeding from the host's madra, blood, and life force. The Blood Shadow returns to the Bleeding Phoenix when it is full to deliver the stolen power. In this way, the Bleeding Phoenix gets stronger as it rests.