Preheat the oven to 350°F and line a cupcake tin with 4 paper liners.
In a mixing bowl, cream the butter and granulated sugar until light. Add the egg, 1 tablespoon orange juice, orange zest, and vanilla extract, then mix until combined.
Stir in the flour and baking powder, then pour in the milk and mix until the batter is smooth.
Divide the batter evenly among the 4 liners and bake for 18 minutes, or until a toothpick comes out clean. Let the cupcakes cool completely.
Beat the cream cheese with the powdered sugar and remaining 1 tablespoon orange juice until smooth to make the frosting.
Spread the frosting over each cooled cupcake. Warm the raspberry preserves slightly and drizzle a small amount over the top of each one to create the bloody effect.