Recently, I watched a National Geographic special on the RMS Titanic. The wreck is 2 1/2 miles down on the Atlantic ocean floor. The debris field is only 2 square miles! If you think about it, the ship and everything that could not float is still on the bottom. Except human remains… Corpses were eaten by sea creatures, but clothing, hats, boots and shoes are in the same spot people came to rest (minus flesh, bones and teeth). You can see pairs of boots next to each other where there used to be a body. So, to answer the question a lot of stuff just stays where it fell on the bottom of the ocean, unless we remove it. I would assume some stuff moves if the current is strong enough. Where it goes, no one is 100% sure, but computer models can predict where the current is most likely to take things. Unless you are a corpse, then you are devoured by vicious and unforgiving sea life.
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