Dear saints, let’s pray that the saints would see that the new covenant promised to Israel in Jeremiah 31:31-34 was absolutely, thoroughly, and completely fulfilled by the Lord Jesus when He established His table and that in instituting the table, He made a covenant with the New Testament believers (Jer. 31:31, 33-34; Matt. 26:26-28; Mark 14:22-25; Luke 22:19-20).
Verses 23 and 24 say, “And having taken a cup, He gave thanks and gave it to them; and they all drank from it. And He said to them, This is My blood of the covenant, which is being poured out for many.” God made a covenant with redeemed Israel in Exodus 24:3-8 (Heb. 9:18-21), which became the old testament as a base for Him to deal with His redeemed people in the dispensation of law. The Slave-Savior came to accomplish God’s eternal redemption for God’s chosen people by His death, according to God’s will (Heb. 10:7, 9-10), and with His blood instituted a new covenant, a better covenant (Heb. 8:6-13), which became the new testament after His resurrection (Heb. 9:16-17), as a base for God to be one with His redeemed and regenerated people in the dispensation of grace. This new covenant replaced the old covenant and simultaneously changed God’s old dispensation to His new dispensation. The Slave-Savior wanted His followers to know this and to live a life based upon this and according to it after His resurrection. (Life-study of Mark, msg. 43)
More details via Beseeching.org, day 387.