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Dissociation can be a common symptoms with Bipolar, but it can also be severe enough to be a separate illness/diagnosis, especially if you have a history of trauma in your life.
Dissociation is a natural and normal coping skill. A common example is driving to work but not remembering all the details of what happened between the house and work. The feeling "out of your body" or that you're a "distant observer" is a more intense version of this. It may be your mind's response to high levels of stress or intense or unpleasant emotions (such as depression).
Your psychiatrist and therapist will be able to help you look at how severe, how frequent, and what triggers your dissociation to help you learn better control over it, healthier coping skills, and to find out if it's part of your Bipolar or it's own illness.
There is not medication specifically for dissociation, and many of the skills we teach clients to stop dissociation are the same skills you could benefit from in dealing with intense emotions or rapid cycling mood swings (usually called "grounding techniques" and also "mindfulness" skills).
Best wishes, Selah