Why can't I paste images UNDER text in Pages 10?

On El Capitan, I could paste images exactly where I wanted them in Pages. I don't remember which version of Pages that was.

On Big Sur (which has Pages 10), when I paste an image in an empty paragraph under text, it jumps into the text—between lines of the text. I have tried many times, so I know I'm not accidentally pasting it inside the text. What's the trick to keeping an image from jumping up into the text above it?