Tic Tac Incident (Specifically the “object” in the ocean where the water appeared to bubble from above)

Have there been any theories as to what this object might have been and its purpose? As has been noted, the tic tac was moving erratically above the submerged object/turbulent waters. What could have been possibly going on?

To note – I believe these tic tacs are of US origin and ultimately military assets, but who in the h*ll actually know.