In today's digital world, I would say news affect anything or everything. Because, the market is definitely driven by news, if its from trusted and established sources. Imagine, if SEC approves bitcoin ETF, then what will be the impact of it on bitcoin price !!! And there can be negative effect as well, from news, that hampers the reputation of bitcoin, e.g. North Korea comes and declares that it has many bitcoins which its going to sell !!!!!!!!!

And yes, there is something else than news, the actual facts, or truth behind the news. A fake news cannot stand for more time. So we cannot just publish that Facebook is going to buy 100000 btc, it need to happen in reality.