Los Blancos suffered their second defeat in the Champions League this season when AC Milan came to the Bernabeu and left 3-1 victors on Tuesday night.
A cacophony of boos and whistles met both the half-time and full-time whistles at the Bernabeu from the home crowd, as Ancelotti's side were deservedly beaten on home soil.
That result marked a second straight home defeat for Real, coming just over a week after they were humiliated at home in El Clasico, losing 4-0 to rivals Barcelona.
Ancelotti facing the sack?
Spanish outlet Marca claim that due to the crowd turning on the team and the manager, that leaves Ancelotti's job hanging in the balance.
It is worth noting that it is only five months since the legendary Italian manager completed a La Liga/Champions League double for the club, but opinions can shift quickly when ambitions are so high.
Fans leaving for the exits with 10 minutes remaining at the Bernabeu seems remarkable considering the long list of astonishing late comebacks they have produced in recent years, but there was justification for it in the defeats to Milan and Barca, as Real never looked like mounting a fightback.
It is not hyperbole to suggest the club is only ever one game away from a crisis, and the report written by Carlos Carpio claims as such.
In the piece, it states: "After showing an alarming lack of football, ideas, physicality, intensity and attitude, the state of crisis has been officially declared for the European champions."
Once the fanbase turns against the man in the dugout at the Bernabeu, it is often curtains, and the report states that this is what club president Florentino Perez will be taking into consideration over the coming week.
"The feeling of the fans, their evident discontent, is the yardstick by which Perez is guided when deciding on the continuity of his coaches, even above adverse results," the report claimed.
How can Ancelotti alleviate the pressure?
The signing of Kylian Mbappe, and the teething issues of implementing him into the squad is believed to be one of the big problems at the club, and a cause for concern among the fanbase.
Carpio states: "The fans are as bothered by the lack of success of Mbappe, Vinicius Junior, Jude Bellingham and co. as they are by the coach's insistence on relying on them and denying them the opportunity that Arda Guler and Endrick deserve in the face of the failure of the regular starters."
Personnel changes could be in store when Real Madrid face a tricky Osasuna side who are just three points behind them in the La Liga table this weekend.
With just six points from their opening four games in the Champions League though, Ancelotti needs a big result when they go to Anfield on November 27 to face Liverpool - the only side left with a 100% record in the competition.