Sorry, your answer is wrong.
Time does not play any role, water flows out of as soon as you open the holes at the bottom of the bottle.
In fact, water (and bottle) "feel" weightless while falling down.
Why people and things feel weightless during the free fall can be explained as follows:
![image](images/lilly_erde.jpg)
Lilly (with her cat) and the Earth attract each other. She can feel that as pressure on the soles of her feet: her soles push against the Earth and the Earth pushes against her soles (see arrows). The attractional force between Lilly and the Earth is calles gravitational force.
To sum this up: We feel heavy because we are "pushed" against the Earth, a chair, a bed etc. (and they "push" against us with the same force).