In this symbol, the pictograph of a pack is used to represent the human body. A liquid flows from the body. Hence, this symbol is an ideograph for the noun bloodshed.
Illustrative Text Reference:
Chanhujo-daro: Seal: C-23 a: Jagat Pati Joshi and Asko Parpola, 1987: Corpus of Indus Seals and Inscriptions: Volume 1: Page 333: Collections in India: Suomalainen Tiedeakatemia.
Image Credit:
Bloodshed: Lynn Fawcett, 2018.