I think you made the mistake of doing link manipulation. Buying too many links at once or poor quality backlinks harms the site.
You should spread the connection work over time, and you should do it gradually.
Of course, your website may have suffered the wrath of one of the latest Google updates.
In addition, it is possible for the ranking fluctuations to be normal after getting a backlink. These may take some time to take effect, and you may experience tides in the process.
I hope everything will be better!