Passage
Israel saw the great work which Yahweh did to the Egyptians, and the people feared Yahweh; and they believed in Yahweh, and in his servant Moses.
Israel saw the great work which Yahweh did to the Egyptians, and the people feared Yahweh; and they believed in Yahweh, and in his servant Moses.
Exodus 14:29 But the children of Israel walked on dry land in the middle of the sea, and the waters were a wall to them on their right hand, and on their left.
Exodus 14:30 Thus Yahweh saved Israel that day out of the hand of the Egyptians; and Israel saw the Egyptians dead on the seashore.
Exodus 14:31 Israel saw the great work which Yahweh did to the Egyptians, and the people feared Yahweh; and they believed in Yahweh, and in his servant Moses.
The verse centers on "israel", "great", "yahweh", "egyptians", "people", "feared", and "believed". It is saying that the verse draws attention to "israel" and "great", so its meaning should be read from those terms before moving to application.
The prior verse says "Thus Yahweh saved Israel that day out...", giving immediate footing for "israel" and "great". In Exodus context, the local focus is covenant, worship, and faithfulness.
A plain takeaway is to answer the verse's own emphasis on "israel" and "great" with trust shaped by these words, not by a vague optimism outside the passage.