The water exerts an upward force on the bottle.
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The bottle is pulled downwards because of the gravitational force acting on it.
The force due to the gravitational attraction of the Earth acts on the bottle in the downward direction.
The concept of buoyancy helps explain why objects float or sink in a fluid.
A sheet of iron and steel sinks because it displaces a small volume of water, resulting in insufficient buoyant force to support its weight.