By plotting the average daily LUNA price against Anchor liquidations in USD, it looks like peak liquidation amount does corresponds to periods where there's a large decline in LUNA prices.

This make sense as folks who kept their LTV high would be liquidated when there's a significant drop in LUNA prices.

To take a closer look at the relation, we can plot the amount liquidated beside the price changes in LUNA.

For the price changes, I've used a percentage change between the current daily average price minus the previous daily average price. This would perfectly illustrate the extent of price fluctuations and its impact on borrowing.