Psalms 79:3

Their blood have they shed like water round about Jerusalem; and there was none to bury them.

The psalm belongs to the captivity of the Jews in Babylon, giving voice to their sorrow and desolation and to their longing and prayers for deliverance. It fits that time when Jerusalem had been brought low and its people scattered.

The likening of blood to water means blood poured out in great measure, in a massacre of the saints under persecution. That slaughter was inflicted by the papacy in its long war against God's kingdom on earth. The martyrs were hunted by the antichristian persecuting power in the days of their trial. That persecuting work was carried out by the power represented by the little horn.