When there is a major piece of news in the cryptocurrency market, the time lag from news release to price reaction is affected by factors such as news dissemination speed. On fast - paced social media platforms, news can spread to 50 - 70% of the market within minutes, while on slower - moving platforms, it may take hours. Investor reaction time also matters. Retail investors may take 1 - 2 hours to react, while institutional investors may take 3 - 4 hours due to more complex decision - making processes. In addition to price fluctuations, the volume of trading can also be used to measure the price reaction. A significant news event may cause trading volume to increase by 50 - 100%, and the market valuation may also adjust. For example, positive news about a project may increase its market valuation by 20 - 30% as investors re - evaluate its prospects.