It depends on the type of news. Some news is spreading by the fudders who just want to create a hype in newbies so that they can be sold their bitcoins. This way whales get profit all the time. Price of BTC goes down when a good amount of coins sold out.

On the other hand, if the news is correct and good for all, then it isn't necessary that price will rise because CRYPTO is a totally unpredictable thing.