The fetus is alive whether there is blood in it or not.
Saying that the life is in the blood does not say that without blood there is no life.
Leviticus 17 is not a valid argument for abortion not being murder. The whole chapter is dealing with sacrifices and the eating of blood, not related to murder or whether something is alive without blood being in it.
So no, that is not a valid argument.
Then why does the bible refer to murder (hundreds of times) as the "shedding of innocent blood"?
If there is no "blood" then how can you call it the "shedding of innocent blood"?
Sorry, it is a valid argument. It may be wrong, but it is a valid argument nonetheless.