The Reds are now level with Manchester United, but have played two games more.
Gerrard told Sky Sports: “They have a fantastic team and you look at their run-in, look to see where they are going to drop points – it would have been very difficult if we’d lost the game.
“I think that point could be big”
He added: “It’s not like us to concede that many goals like we have tonight. We’re normally sound defensively, especially at home.”
“We’ll have to wait and see how big that point could be for us.
“Performance-wise, at times we were very good. Torres and Benayoun were frightening going forward.
“Now we need United to get beaten which is difficult to do because they’re a good team. But there are still twists and turns left.”