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Real Madrid is far behind in the Champions League points table. Even then, I would say that Real Madrid is now the favorite for the Champions League title this season. Real Madrid did not start the season well. The team's performance was very irregular. But the Real Madrid team is in great form now. Madrid won against Sevilla by a large margin in the last match of La Liga. Madrid also won against Atalanta in the last match of the Champions League. Madrid will also qualify for the playoffs by winning against Salzburg and Brest in the next two matches of the Champions League.
Almost every season Real Madrid is always the favorite in the Champions League, but this season it is a bit difficult to defend the title it won last season because of its inconsistent performance. Maybe Real Madrid will qualify for the round of 16 through the Play-offs, but the competition in the knockout stages is not the same as the League Stage. I am leaning towards Liverpool based on what they have shown so far, if the two meet, Real Madrid will have a hard time facing Arne Slot men.
You are right. The way Real Madrid has performed in the Champions League so far, it doesn't seem like they deserve to win the Champions League title. However, I have seen Madrid's performance against Dortmund and Atalanta. Madrid has the ability to perform well against big teams. But Madrid is not yet able to maintain its good performance. There are still several weaknesses in Madrid's squad. Vini has faced injuries several times. As a result, Madrid's attack performance is still a bit erratic. If Mbappe can continue his good performance in the Champions League, then Real Madrid has a great chance of winning the Champions League title. However, there is still a long journey ahead.