After what Madrid experienced in the UCL, the players condition must be in a slump. Plus there are rumors that Ancelotti will leave at the end of this season, precisely after the CDR final. Like it or not, Ancelotti has given his best but his era is indeed over and Madrid must be able to adjust to the modern era game with a coach who has a better system. The La Liga trophy will be easily locked by Barcelona so it is quite difficult for Madrid to catch up on the points even though the difference is 4 points but in fact the quality of Real Madrid game is still far from ideal.
Sooner or later something like this must happen because seeing from what is happening now even if Ancelotti tries to keep trying to survive he will not be able to do that because surely Perez will not remain silent about something like this.
Perez is one of those people who is ambitious and does not accept defeat so no matter how good Ancelotti has done in the past including in several seasons of coaching that managed to give trophies in the Champions League and La Liga but when he fails this season because he may not be able to get a trophy this season then there will be no mercy for Ancelotti.
So for now Ancelotti's future seems to be decided at the end of the season and I think things like this are likely that Ancelotti will indeed leave.