For the cake: Preheat the oven to 350 degrees F. Grease and flour a 10-inch Bundt pan.
Heat a large skillet over medium heat. Sprinkle the almond flour into the pan. Leave it undisturbed until it begins to smell toasty, 15 to 30 seconds. Stir the almond flour and continue to cook, stirring occasionally, until it is evenly toasted, 1 to 2 minutes. Cool completely.
Whisk the all-purpose flour, baking powder and salt into the cooled almond flour.
In the bowl of a stand mixer fitted with the paddle attachment, cream the butter, granulated sugar and brown sugar until light and fluffy, 4 to 5 minutes. Add the eggs one at a time and mix well to combine. Scrape the bowl well between each addition.
With the mixer running on low speed, add the vanilla and almond extracts and mix to combine. Add half of the dry ingredients and mix on low speed to combine. Add the milk in a slow, steady stream and mix until well combined. Add the remaining dry ingredients and mix to combine.
Pour the batter into the prepared pan and spread into an even layer. Firmly tap the pan on the counter to help reduce any pockets or bubbles of air inside the pan. Transfer to the oven and bake until a toothpick inserted into the center comes out clean, 45 to 50 minutes.
Cool the cake inside the pan for 15 minutes, then unmold onto a wire rack to cool completely.
For the icing: Whisk together the blood orange juice and powdered sugar in a small bowl to combine. Add more powdered sugar as needed to make a thick glaze.
Spoon the glaze over the cooled cake, allowing it to drip down the sides. The cake is ready to serve immediately, or you can let the glaze set for 15 to 20 minutes to firm up before serving.