Set this layer's Fill to 0% and the Blending Options -> Inner Shadow parameters:
After completing the settings, the circle will look like this:
Draw another circle with 0% Fill and place it in the following position:
Set Blending Options -> Gradient Overlay :
And we will have bubble results:
Combine 2 bubble layers into 1 by holding Shift, select the layers and then press Ctrl + E on the keyboard.
Duplicate the bubble layer ( Ctrl + J ) to make as many as you like, use Ctrl + T to drag and enlarge the bubble.