Portal changed to closed after final rounds, but no communication from recruiter

I recently went through an interview process for a job that I enthusiastically wanted. I went through a recruiter screen, met with the hiring manager, completed a case study, presented the case study for an hour to a panel, and had two more 1-1 interviews with other stakeholders. I felt like they all went well the recruiter told me that there were 3 candidates left in the final rounds.

Final rounds were last week and the recruiter let me know that the team will debrief and make decisions this week. I haven’t heard back from the recruiter at all and I just checked the candidate portal and my status was changed from “in review” to “closed” but I haven’t gotten a rejection email or update at all.

Why would this be? Should I assume the worst and assume they ghosted me and hired someone else? Is there still a chance for me?