This study examined the effects of match location, match outcome, opposition quality, competition phase, goal-related events, and goal difference on running performance in the Brazilian Women's Soccer League, as well as the combined influence and relative contribution of these contextual factors to performance variance. Sixty-seven elite female players from four teams (Team 1–4: n = 18; 15; 15; 19) were monitored across 68 matches in the 2024 Brazilian Women's First Division League, yielding 403 Global Navigation Satellite Systems (GNSS)-derived observations. Sprinting distance was greater in losses than in wins or draws (p = 0.001–0.049), while draws elicited higher deceleration values than wins (p = 0.015). Intermediate- and low-difficulty matches produced higher total distances (p < 0.001–0.007) and high-speed running (p < 0.001–0.014) than high-difficulty matches, with low-difficulty matches showing higher values than intermediate ones (p = 0.002). Players covered more high-speed distance in the knockout phase than during the group phase (p = 0.002). After scoring, players performed more decelerations than after conceding (p = 0.011). One-goal wins involved greater high-speed running, sprinting, and acceleration than matches decided by larger margins (p = 0.002–0.013). Stepwise regression analyses indicated that opposition quality showed the largest incremental contribution to explained variance for total distance (adjusted R2 = 0.169; 16.9%) and PlayerLoad (adjusted R2 = 0.066; 6.6%). Overall, match running performance in elite Brazilian women's soccer is strongly modulated by contextual factors, with opposition quality and goal difference explaining most variance, while match location shows no meaningful impact. Thus, running performance must be interpreted in context.