Could this be indicating a need to "come down to earth" in some area of your life? The person you were with, male or female? - either way I see it as an aspect of yourself that is "up in the air" and "taking up too much room" in your life.
What sort of water, ocean, lake, river????
Perhaps it may be necessary to "dive into" your emotions and that possibly your fear is associated with subconsciously knowing that some sort of death does indeed need to take place within you.
Hope that helps.
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