The Cryptocurrency market has moved way past that stage where news tend to move price majorly, for example Ripple recently announced a partnership with a bank and the price of the tokens didn't even move one bit and that's the number three coin on Coinmarketcap, so smaller projects out there do not even stand a chance to move their token price because of any news they have to release to their community members.
In my opinion, news has always influenced the cryptocurrency market, and therefore, with a certain accuracy, you can determine the direction of the cryptocurrency market by studying this or that information. There is a lot of speculation and many can use the information space to deceive traders and other cryptocurrency users, but nevertheless, you need to learn how to analyze all the information that is available on different resources about the cryptocurrency market.