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Hello from JustAnswer.
Is this causing any pain?
How long has this been present?
Is there any other fluid present when you squeeze it, such as pus?
If this is visible, could you attach a picture of it?
I had asked for some further information and have not heard back.
The most common reason for a growth/tumor on the scrotum that drains blood when squeezed would either be an obstructed hair follocile or an infection of a hair follicle. There are many other cystic lesions in the skin that can occur on the scrotum, but these are less like to drain bloody fluid when squeezed.
There are also a number of different cystic structures that can occur in the scrotum associated with the structures of the testicle or epididymis, but these typically will not drain through the skin when squeezed.
This would be more of a concern if there is pus mixed with blood, as this would typically require antibiotics. If it is not painful and is not draining any pus, then it may simply be an obstructed hair follicle, and you can try to manage this at home with soaking in warm water to which Betadine has been added or applying warm compresses that have been soaked in Betadine water. If there is a possibility of infection, though, it would be better for you to be seen by your doctor.
If I can provide any clarification, please let me know.