K^2
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256bits, it doesn't have to be perfectly incompressible. Compared to a gas, just about any real fluid will be near enough incompressible to get the same behavior as stated in the problem. So yes, real fluid will give a little, and the pressure in the bubble will drop slightly, but the change will be negligible, and you can easily have a setup where that pressure drop is much smaller than pressure differential between bottom and top of the container, resulting in an overall pressure increase in fluid as the bubble rises.