The sacrificial death of Jesus on the cross finds its roots in the Old Testament's sin-bearing sacrificial system. Jesus became redemption, propitiation, and recompense for those who put their faith in Him. The New Covenant also finds its roots in the "old" covenant made with Israel at Sinai. Though the people of Israel have rejected Jesus, a day is coming when "all Israel will be saved".
This is Session 7 of the class Faith, Hope, and Love - Rediscovering the Essentials of Christianity.