The defender starred for the Reds in their draw with Arsenal last Sunday, playing a sublime pass behind the Gunners' defence for Darwin Nunez, who raced towards the penalty area before squaring to Mohamed Salah to make it 2-2 in the 81st minute.
While the right-back has only produced one assist in the Premier League so far this season, he has played a significant role defensively, with Arne Slot's side boasting the best defensive record in the division having conceded just six goals in 10 matches.
However, Alexander-Arnold has consistently been linked with a move to Real Madrid given he is yet to sign a contract extension with the Reds, fuelling speculation that he could leave for free at the end of the 2024-25 campaign
Football Insider's senior correspondent Pete O'Rourke claims that Carlo Ancelotti's Real are making advances on the full-back ahead of the January transfer window, and that a move to Madrid is looking increasingly likely the longer negotiations between Trent and Liverpool drag out.
Head turned by Real?
Alexander-Arnold raised eyebrows recently when he insisted that he would rather win the Ballon d'Or than winning another Champions League, a trophy with the England national team and becoming Liverpool captain after Virgil van Dijk.
His comments sparked concern amongst Reds fans as many believe that the right-back would be best positioned to win the Ballon d'Or at a club like Real Madrid, who already have a number of players such as Kylian Mbappe, Jude Bellingham and Vinicius Junior that are likely to be candidates for the award in the future.
Additionally, given that Manchester City have routinely won the Premier League, it is difficult to say whether Alexander-Arnold would win the silverware normally required to be nominated for the Ballon d'Or.
From an outside perspective, it would seem logical that tying the boyhood Liverpool fan to a new deal would be relatively straightforward, but with no signs of an imminent extension, some have questioned whether the defender has had his head turned by Real.
Liverpool fans may also be concerned given that right-back Dani Carvajal likely to miss the rest of the season, and in his absence Real could look to accelerate plans to sign Alexander-Arnold in the January window.
Where Trent's departure would leave Slot
If Trent was to depart, his absence at right-back would be significant considering his unique profile as arguably the world's best offensive full-back.
Even if the Reds were to sign a defender such as Jeremie Frimpong in an attempt to replicate the Scouser's impact in the final third, it would still be difficult to replicate his passing ability in deeper areas, something that has helped them bypass opponents when they press.
To make matters worse for Slot, Mohamed Salah and Virgil van Dijk are also out of contract at the end of the season, with Salah's potential contract extension looking like the most complicated of the trio to agree.
Fans might have more reason for optimism in regard to captain Van Dijk, who confirmed that he is in talks with Liverpool about extending his stay at Anfield.
Slot will hope that at the very least the trio can continue their fine form this season and propel Liverpool forwards as they look to win the Premier League title.