Squad Battles Rank Loss with wins after 12 completed games.

I know people have been getting Zero points, but I’m also losing my rank, but not my points. 

Last season, I finished with just in Gold 1 with around 7700 points. I continued to play Squad Battles to complete challenges and win.. but even with wins, each game would lower my rank bar. My points yesterday still read 7700+ but the rank bar had me at Silver 2 (I played a lot to complete challenges) and only received Silver 2 level rewards… why? How? Why did I get penalized?