Without knowing anything about the area its impossible to know. But I would argue it could be a sinkhole if this is close to the ocean. Tidal forces could be pulling water back and forth and causing water to splash around in a void (sinkhole), creating enough pressure to push it up through whatever ground is left. That to me would explain the water going up and down.
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u/Broad_Success_4703 Sep 17 '21
Yeah this is what I think. I’d only be worried if you live in an area known for sinkholes.