People want bitcoin for 10th August. What will happen after 10th August? Huge BTC dump. And probably soon after a bottom of this Bitcoin cycle. So what good trader do when everyone is buying Bitcoin? They buy alts. So Buy Monero and buy back Bitcoin after 10th August dump. If you need Bitcoin so much.
The people on /r/ethtrader are pretty bearish at the moment ( normally they are circlejerk permabulls in there ) , many expect a huge dump for alts on both scenario's: ETF approval or rejection.