Job Application Status Meaning

Hey everyone, I recently went through some interviews for a position I was really interested in. I had 2 interviews and was told I should hear back from them by last Friday. I didn't hear anything from the employer, so I checked the job application portal and the status has changed from "Interview" to "Hold" when I hover over hold it says "hold for further consideration".

What do you interpret this as? I'm assuming I didn't get the job, but they're keeping my application on file in case their first choice applicant declines.

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