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The Reds did not sign a single player during the January window and will now have to wait until the summer to strengthen their squad.
Liverpool are guaranteed to have one new addition in the summer, when Giorgi Mamardashvili arrives at Anfield from Valencia.
It remains to be seen what business Liverpool have planned for the summer, with the club's success this season potentially affecting what players are signed at the end of the campaign.
Here, ECHO writers assess how Liverpool's January window panned out and have made some predictions for what could happen in the summer.
Mark Wakefield
Even though Liverpool were linked with several players in January, I personally did not believe the Reds would do any business unless a serious injury crisis was to happen.
If any of the trio leave, then you would expect the Reds to try and sign a replacement in some form - who those players would be, though, remains anyone's guess.
James Quinlan
Totally agreeing with the above, it is not a surprise that Liverpool haven't made any signings this winter based on the club's strategy and clear hints towards the summer being the critical time, but it is not necessarily to be agreed with.
They can just about get away with it if Joe Gomez, Diogo Jota and Curtis Jones aren't injured for too much longer but then if any more injuries happen, that is when the 'told you so' argument is going to flourish.
They should have at least moved for a central defender, one for the future like Jorrel Hato.
The Reds did not need to do business in a sellers' market and that's exactly how they approached it.
It has become apparent now that Arne Slot is not going to spend unless he desperately needs to.
Andy Robertson is on his way out and it would be good for Liverpool to have his replacement in the building for a year before he eventually moves on.
Meanwhile on the right, I expect Trent Alexander-Arnold to depart at the expiry of his contract, especially if the Reds win the Premier League.
Right-back could be a tricky position to nail down but why not look at someone like Joshua Kimmich who can offer some versatility to this squad.
One free transfer for another would be considered good business while Liverpool get their ducks in a row.
Matthew Abbott
Liverpool's transfer window looks better in light of Arsenal not making a single signing either.
For more news relating to Arsenal, visit our sister site AFC Latest Live.