In the Old Testament, a lamb without blemish was often used as sin offering, for a trespass or guilt offering, for a burnt offering, and for a peace offering. Jesus was God’s Lamb for the sins of the whole world. His blood had to be shed if He was to become the Substitute for all of mankind. Once for all He became the complete offering for sin.
The shedding of blood provided a covering for sin through an acceptable sacrifice. The shedding of blood made a covenant with God possible when He established a covenant with Abram with blood. It made possible complete protection from the destroyer. The blood consecrates or sanctifies unto the Lord. The shedding of blood made complete atonement and removing of sin possible.
This Psalm talks about a Father who forgives, heals, redeems, blesses us with His lovingkindness and mercies, satisfies us with good things, renews our youth, executes righteousness and justice. He is unchanging and sovereign.
This is a Psalm of protection, immunity, deliverance and longevity. In this life, we need to practice a 3-fold posture of life - Relationship, declaration and boldness.
This Psalm is an encouragement to the righteous to keep trusting, delighting, waiting, walking and resting in the Lord. Do not fret, instead trust, delight, commit, rest and wait.