Liverpool can lose it's first position only if they show worst performance in there upcoming matches, which is not possible because Liverpool has lost just one game this season. Even if Liverpool lose 6 or more of it's remaining matches then Arsenal has to win almost all of it's remaining games, which won't be a piece of cake.
One main reason why Liverpool is Champions-Elect is that they are now out from all other leagues and there sole focus is now on winning EPL title. Arsenal once again has to bear second position in EPL if they play well in remaining games. The points gap between Arsenal and Nottingham is of just 4 points.
From tbe beginning of the season, Liverpool never showed any sign of weakness, at least here in Premier League, I'm not sure if they are going to do such later. If they do that now, that means alot of players are getting sack and contract termination because how can you lose Champions League, failed in EFL cup and then come and lose here in the Premier League when you are just 2 months away of 8 matches of winning the league, it's not juts embarrassing but disrespectful to let such happen.
12 points isn't much but Liverpool will have to lose 4 matches and Arsenal has to win 4 matches consecutively, such will be hard except if they do it continuesly for like 10 weeks of win, draw and lose and it will be disgraceful for Liverpool to be very bad in 10 weeks when we ill be talking about lifting the trophy. What I can depict from the table is there could be changes between 3rd place and 4 places but second place and first is definitely secured.