Arsenal wasted loads of chances before imploding at home in their first game of the new year, starting the same way they ended the previous year.

The Gunners are the most successful side in the FA Cup with fourteen triumphs, but they crumbled late in the fifth-round tie against Liverpool at the Emirates Stadium. It was a huge opportunity missed, as the Gunners had all the chances to bury their visitors.

Arsenal started without Gabriel Jesus, who has been confirmed to be injured with yet another knee problem; Thomas Partey continues to heal from his longstanding issue; and Alex Zinchenko missed out due to injury as well.

Liverpool were without Virgil Van Dijk due to illness; Dominik Szoboslai had a slight problem; and Mohammed Salah has joined Egypt for AFCON. It was there for the taking of the hosts, but they watched too many chances go by without doing the needful.

Is it time for the gunners to press the panic button? Maybe. Defensively, should anything happen to either or both of William Saliba and Gabriel, the season is done for Arsenal. They’re down to bare bones in defense, with Timber out on a long-term and Zinchenko on and off.

Up front, even with Gabriel Jesus, they still need a striker. The Kai Havertz experiment is proving to be tough to understand; the German does have it in him to be a match-winner, as we’ve seen in recent games, but it’s proving to be an unsustainable project.

Jacob Kiwior scored an unfortunate own goal late in the game, and Luis Diaz riffled one past Aaron Ramsdale at the death to secure a 2-0 win and a fourth-round ticket. It was a game Arsenal dominated on all fronts, but without a proven finisher, it ended as yet another frustrating night for the Gunners.

What is available on the market? Arsenal must do it the hard way. They must find gems in Europe, and it has to be in January. Bukayo Saka needs a break; Reis Nelson isn’t the man you can rely on; the Bournemouth goal tax has expired; and Arsenal must move on from him and a few others.

The league is still there to fight for. Arsenal is no longer the favorite to challenge Manchester City; they must sit tight and fix this run of one win in seven games. You can’t be a champion by dropping your head at crucial points in games. Arteta must take charge now and halt the rot.