Liverpool lost a great opportunity, they are now in second place. Their championship chances have decreased because their fixtures are very difficult. There were very few places that saw them as first favorites anyway, Manchester City and Arsenal are much more confident. Liverpool will most likely finish the season third. I calculated that they would get 15 of the remaining 21 points, and that is at best. They have now lost their psychological superiority.
I can imagine that the next 7 matches will be finals for Arsenal, Liverpool and Manchester City. Neither of them expects to drop points regardless of who the opponent is, so each team must be played to the best of their ability. None of them will underestimate their opponents in the next 7 matches, they will be very focused on winning every point they are fighting for.
Liverpool didn't lose much, they still had a chance. Arsenal is not at all safe from remaining at the top of the standings, while Manchester City will continue to pressure the two top teams with all their abilities. If Manchester City manages to lead the standings, then I am sure they will secure the title again this season.