Can a core update impact both my website’s traffic and rankings simultaneously?

Absolutely, a core algorithm update from search engines like Google can definitely impact your website's traffic and rankings simultaneously. These major updates are designed to improve the overall quality and relevance of search results across the board.

When a core update gets rolled out, it essentially reshuffles how websites are evaluated and ranked for different queries based on new or adjusted ranking factors. So along with seeing ranking position changes, you'd expect to see corresponding traffic shifts as well.

A few key ways a core update could hit both metrics:

1) It reassesses the relevance and quality of your content. If the update finds your pages less valuable or authoritative compared to the competition, you could get demoted in rankings for important keywords.

2) It layers in new user experience signals like bounce rates, dwell times, etc. If users aren't connecting with your content post-update, your poor engagement metrics could drag down rankings and send traffic sources drying up.

3) It adjusts how factors like site architecture, page speed, mobile-friendliness, etc. are weighted. Technical aspects here could suddenly become more critical for ranking well.

4) It focuses on improving results for specific niches or industries. If your site falls in a heavily targeted category, you might see an outsized impact on your positioning and traffic sources.

Of course, the degree of impact varies tremendously based on the specific update and how well your overall SEO situation aligns with the new quality standards being rolled out. But any major core update realistically puts both your traffic and visibility up for reassessment.

So if you notice alarming dips in your rankings and organic traffic all hitting around the same time, it's likely a consequence of a core update that your site may need to adapt its strategy to address.