Preheat the oven to 350 degrees Fahrenheit.
Beat together the butter and sugar in a stand mixer (or by hand) until the sugar has completely dissolved and the butter is light and fluffy.
Add one egg at a time, mixing thoroughly each time to ensure lots of air is incorporated into the mixture.
Add the baking soda and cayenne pepper powder. Grate the zest of 2 of the blood oranges into the mix. Then squeeze the juice of the 2 oranges into the mixture.
Add the flour on top, then fold gently only until combined (do not over-mix.)
Transfer the mixture into a greased cake pan, then slice half of the remaining orange into wheels, keeping the other half for the icing.
Bake in the center of the preheated oven for 40 minutes.
Remove from the oven then cool for 10 minutes. When cooled, remove from the tin and place on a wire rack.
Combine the juice of the remaining half orange and the powdered icing. Stir well.
When the cake is completely cooled drizzle with the icing.
Enjoy while fresh or keep in a cake tin for up to 3 days maximum.