Those protruding bubbles on the hull, you are pressing and they ooze a vinegar smelling liquid are osmotic blisters.
Those will not go away. They will get worse. Think wet feet, wet socks, bad fitting boots and 5 miles still to go on your hike home worse.
Here are a couple of data sources on this topic.
Since 1974, Practical Sailor’s independent testing has taken the guesswork out of boat and gear buying.
www.practical-sailor.com
Owners of older boat’s who keep them in the water face the problem. Some will spend lots of money trying to repair the damage, skimming the hull surface, drying the boat in the yard for years, resurfacing the hull with laminating glass, adding barrier coating and bottom paint. Some (count me in) with a thick hull will spend a little money popping, filling, barrier coating the more offensive of the pox.
My 50 year old hull has been on the hard for 58 days and counting. In that time the workers have sanded the bottom. Exposed numerous gelcoat blisters. Ground out and filled them, then covered them with a thickened epoxy, painted them with 2 coats of barrier coat. Now will add the bottom paint.
The weeping rust drips makes me suspicious, you have water in the deck joint. If water is seeping out it can seep in when you drop the boat into the water. I would want that resolved before splashing my boat