Yes, but it would be shown as a false "block occupied" signal. Which could also have plenty of other causes, such as broken cabling or defective track circuit equipment, and as the Weyauwega disaster taught us it wouldn't detect a partial break.
Provided track circuit detection is even used, of course. I vaguely recall it not being compatible with either 25kV electrification or high-speed rail in general, and most modern tracks therefore using axle counters instead.
Provided track circuit detection is even used, of course. I vaguely recall it not being compatible with either 25kV electrification or high-speed rail in general, and most modern tracks therefore using axle counters instead.