Red blinking light around Venus?

Satellites don't have lights on them. Even ISS has no lights on its exterior.

Well -- satellites have no need for lights -- and it would just cause an unnecessary drain on the power supply.

Satellites can reflect sunlight and they can be illuminated by the sun. In both cases they are star-like white objects that move across the sky.

Red flashing lights occur on planes and helicopters. It is possible you saw one in your field of view. And it may have actually been too far away for you to see it with your eyes. And Venus is never far above the horizon -- so this makes it more likely you'd see a distant airplane.

You saw an airplane, helicopter, maybe a blimp. Every single aircraft has at least one blinking red light on it (called a rotating beacon even if it just flashes instead of rotates)..... In addition to other non-blinking marker lights of various colors. That's an international aviation standard. Though it is not uncommon at all to see satellites if the sunlight catches them just right, none have any lights on them at all. For what?

The light disappearing just means that the plane became obscured behind a cloud you couldn't see because it was dark.....or it simply turned a different direction and the blinking light was no longer visible to you. Most aircraft have the rotating beacon on the top of the vertical tail, or on the top somewhere. If it banked away from you the beacon would be blocked by the aircraft's tail surfaces and fuselage.

A red blinking light is an aircraft of some sort.

Satellites don't have blinking lights. Aircraft do, and through a telescope you might see only one flash.

I would say its a plane but it wouldn't disappear and I don't think you'd be able to see red lights on a satellite even if they had red lights

You saw an plane or helicopter.