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It does not matter. A change in air pressure has such little influence underwater, let alone under a foot of ice. Water pressure is sooo much more than air. Basically, if a 300-pound man was sitting on top of you, would you notice if he picked up a can of beer? A huge change in air pressure is a few feet change in the water column which fish do all the time. Not saying that fish do not respond to weather changes, but it most likely results from winds, light intensity, temperature, etc... It is simply a nice excuse to have when we do not catch any fish. Must have been the pressure....
In my experience, ice fishing anyway, steady or falling pressure (30 or less) with overcast skies the bite is better for pannies. But, I have found that Pike prefer those bright, sunny days. Seem to see more flags a flyin'.
It is all about light intensity in my experience... Very often when the Barometer is falling clouds are rolling in and the light intensity changes, it was not the drop in pressure, but a drop in light that turned on the bite... I have been watching this for years, even a big cloud passing the sun can start a short bite (we have even seen it at night with a full moon). Ice fishing I have watched as the shadow of some tall white pines pass over a spread of tip-up, as the shadow passes, flag up...
That's cuz fish don't have protruding ears. Sunglasses keep falling off. Why do you think they call them Walleyes?
I have been fishing for 70 years now. Thought about why and when all that time. There have been many times when I thought I was on to something, only to prove it wrong sooner or later. Now I just go fishing.
Caught a bunch of nice perch on Tuesday under a high-pressure system. Went back to the same lake, same 'X', using the same lures & bait on Thursday and caught 1 perch apiece under a rapidly falling barometer. Checked a dozen other folks and all were experiencing the same paucity of caught fish. So much for all y'all's theory of good fishing on a falling pressure.
Barometric pressure changes affect my knees long before I can see what's going on with the fish.