Google has announced the completion of the Core Update, an update to Google’s core search algorithms. This update lasted for 25 days, which is longer than previous ones, and further revisions are likely still to come.
You should open Google Search Console (GSC) and check your links. Some sites have lost about 80% of their referring domains, including powerful links from Google itself. This indicates a significant revision in the ranking process based on links.
This update is highly controversial, but it’s still too early to analyze it in detail. Additionally, it overlaps with the ongoing Reviews Update.