In my personal opinion, no matter how great Arsenal's current performance is, I am very sure that they will not be able to shift Liverpool's position from the top of the standings. Because a difference of 12 points can certainly be said to be a fairly large difference in points. So to catch up, Arsenal must be able to sweep every match with a win, and I personally also doubt that. Because in the remaining matches in the English league, Arsenal will still face several very great teams, one of which is Liverpool and also Newcastle. In addition, Arsenal will certainly still be busy with the Champions League competition, so it is certain that with this, the performance of Arsenal players will not be 100% fit, because Arsenal players will also certainly be very tired playing in the Champions League.
So with this, I think it is increasingly clear that this season the champions of the English league will be Liverpool. Because all factors currently really support Liverpool, starting from being ahead with quite a lot of points, then Liverpool is also currently not too busy, because they have lost in the Champions League competition. So with this, Arsenal will no longer have high hopes of being able to become champions in the English league. Maybe Arteta's team will finish in 2nd place again this season. I think that's better than finishing in 10th place hahaha.
Arsenal is playing well now but I also do not think they can catch up to Liverpool who is 12 points ahead. To catch up Arsenal would need to win every game left which is little impossible. They still have to play tough teams like Liverpool and Newcastle and they are also playing in Champions League which will make players tired. With all these games it is hard for Arsenal to play their best. So it looks like Liverpool will probably win league this season. They have big lead and do not have as many games to play since they are out of Champions League. Maybe Arsenal will come in second which would still be good finish.