Given the ETH/ETC DAO split, with people ending up having coins on both chains, reaping a windfall, this time people may buy BTC as a way to end up on both chains. BTU/Core may be see as an ICO for that coin?
if true, price would have been already above $1500 and not slowly accumulting towards $1100 with a hard time.
this is just a normal come back of those who sold, buying back in with more money at their disposal.
what you don't realize is that market doesn't care about bullshit. and since there is not hardfork on the way in the near future there is no reason for panic selling or panic buying at all.