Yes, for floating ice like at the North Pole. Its melting would not raise sea levels at all.
But no, for land-borne ice like at the South Pole. That ice is not floating, so its melt water would contribute to increasing sea levels. Since most ice is land-borne, this could become a problem for coastal communities.
the water level does NOT go down.
the amount of ice that stays above the water level is the difference in density between ice and water.
Ice caps melting are a problem because of the ice that *isnt* floating. The ice that sits on land isnt in the water so its not contributing to the water level. If that ice melts all the water it adds will cause the ocean to rise.
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