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.
I think big news headlines
used to have a massive influence on prices. One bullish article could send a coin up 20% in an hour a couple years ago. Those days are no longer here though, there has been lots of news of adoption and institutional investments but it seems people are more skeptical now and want to see actual usage, not just headlines.