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bleed (v.)

Old English bledan, "to cause to lose blood, to let blood" (in Middle English and after, especially "to let blood from surgically"), also (intrans.) "to emit blood," from Proto-Germanic *blodjan "emit blood" (source also of Old Norse blæða, Dutch bloeden, German bluten), from PIE *bhlo-to- "swell, gush, spurt," or "that which bursts out," from suffixed form of root *bhel- (3) "to thrive, bloom."

Meaning "extort money from" is from 1670s. Of dyes or paints, "to be washed out," from 1862. Figuratively, of the heart, "to suffer anguish, feel pity or sorrow," late 14c.

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Definitions of bleed from WordNet

bleed (v.)
lose blood from one's body;
Synonyms: shed blood / hemorrhage
bleed (v.)
draw blood;
In the old days, doctors routinely bled patients as part of the treatment
Synonyms: leech / phlebotomize / phlebotomise
bleed (v.)
get or extort (money or other possessions) from someone;
They bled me dry--I have nothing left!
bleed (v.)
be diffused;
Synonyms: run
bleed (v.)
drain of liquid or steam;
bleed the radiators
the mechanic bled the engine
From wordnet.princeton.edu