I don't think this price change was news driven at all. There have been plenty of significantly larger news events that have had a smaller or no effect at all on bitcoin price. For example, Dish network or Dell accepting bitcoin, both of which are significantly larger companies than paypal. The Dell one in particular. To be honest, I didn't even know what news you were referring to - I had to go look it up.
news doesn't effects price, poeple pressing buttons effects price.
news is just an excuse to press or to hold off pressing which ever button you where going in the first place.