Both. As 1 Peter 1 would show.From the very beginning, an innocent was slain to provide covering, and Jesus as lamb of God would provide the ultimate sacrifice for sins, as His shed blood provided the covering for the Grace of God. Was it His sinless life, or the nature of His death that brought salvation to us?
"18knowing that you were not redeemed with perishable things like silver or gold from your futile way of life inherited from your forefathers, 19but with precious blood, as of a lamb unblemished and spotless, the blood of Christ.
For the innocent to be slain was held - penned up as signifying "on trial" - to prove no discredit could be attached.
Thus our Lord was examined, for the authorities could bring nothing from which to find Him guilty (though they inspected more thoroughly than any sacrifice) and had to be content with bribery and manipulation.
So purity was most certainly a point. Our Lord was pure, without spot, unblemished by the world. (One reason I don't hold that He ingested intoxicants - which is another thread issue).
Also, the nature of His death was a factor. He had to die. The blood had to be shed. He had to endure all that the type and the statements of the OT concerning the suffering messiah would appoint.
The shed blood provides for the forgiveness of sin. (Hebrews)
There is another Scripture that may help in discerning this matter. Typically, this passage is used to support justification by faith (belief), but there is also this subtle thread dealing with sin.
It is found in Romans 3:
21But now apart from the Law the righteousness of God has been manifested, being witnessed by the Law and the Prophets, 22even the righteousness of God through faith in Jesus Christ for all those who believe; for there is no distinction; 23for all have sinned and fall short of the glory of God, 24being justified as a gift by His grace through the redemption which is in Christ Jesus; 25whom God displayed publicly as a propitiation in His blood through faith. This was to demonstrate His righteousness, because in the forbearance of God He passed over the sins previously committed; 26for the demonstration, I say, of His righteousness at the present time, so that He would be just and the justifier of the one who has faith in Jesus.
What is important of this passage to the topic is not only the lack of wrath, but how it was God doing the displaying.
Before, as you remember, all atonement concerning the "mercy seat" took place behind that great, mighty, ceiling to floor, wall to wall, curtain - symbol of the law separating God from man.
But God put His Son on public display. Rending the curtain in half, destroying that mighty wall of law separating Him from us. How? Look again at verse 25: "In His blood."
That blood was shed for ALL, without the wrath of God being displayed.
That blood was shed for ALL, that SOME might be adopted by the Father.