In recent times, that's the major event that has acted as a catalyst for some rapid market movements (up or down). Someone made a post on X recently about an observation that news are beginning to move prices because they stopped moving prices a while ago. A project might do a v2 Mainnet update and you won't see price react to it — The Powell news is a major macro news imo. Another news that often move price in both crypto and stocks is CPI. PPI doesn't have the same effect unfortunately.
People before now do think news moving prices was mostly particular to currency and stock trading maybe but then it turned out that as Bitcoin and other cryptocurrency are beginning to gain more adoption and recognition, the news about them begin to have a direct effect on the market because people are begining to react in that direction as to whatever it is they hear about these assets at almost every time.