Exodus 24:8

8So Moses took the blood and splashed it on
Given the size of the congregation, the preposition might be rendered here “toward the people” rather than on them (all).
the people and said, “This is the blood of the covenant
The construct relationship “the blood of the covenant” means “the blood by which the covenant is ratified” (S. R. Driver, Exodus, 254). The parallel with the inauguration of the new covenant in the blood of Christ is striking (see, e.g., Matt 26:28, 1 Cor 11:25). When Jesus was inaugurating the new covenant, he was bringing to an end the old.
that the Lord has made with you in accordance with all these words.”

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