Any 'good' news is needed right now to uplift what we currently witnessed. The market is getting worst by the day so a Bitcoin ETF will really do good things like influencing the market and could probably start a bull-run.
We don't need good news. In a bear market, good news just provides a bounce to sell into.
What we need is for sellers to get exhausted. You can tell from the hash rate that miners are capitulating in addition to weak handed investors. Bitmex Research reported an unusual uptick in miners selling. The BCH war may be relevant here, but I suspect miners shutting down operations are also liquidating crypto assets and that's strongly pressuring the price down as well.