furnace fresh air intake

[blacknife]

the intake on my furnace just dripped on me.
1963 house and ducting
2000ish mid efficiency furnace
the ducting is wrapped with some insulation with silver coating and it is dripping out through little spots into my unfinished basement. closer to the outside there is a big frozen drip as well.


I am guessing if I wanted things right the intake should be airtight and not dripping on me? or could this just be a sign of higher humidity from the tank condensing on the intake line when its sucking cold air in?