Imagine a simple experiment - we have a high-pressure container partially filled with water, and then pump the air pressure inside to a high level, about 1000+ bar. At room temperature, air density inside the container will get to the neighborhood of 1225 kg/m3, while water density should still be near 1000 kg/m3.
Does this mean that water will be actually splashing at the TOP of the container, while the air occupies the space at the bottom?
This question is directly related to Is it possible to have a Gas heavier than a liquid?, but more specific.