That's what Press TV and some other media say, echoing an analysis issued first by the Washington Post.
The combination of Morsi’s aggressive designs against Syria, together with some trial balloons from presidential circles about a possible conflict with Ethiopia, plus the massive anti-Morsi demonstrations organized by the National Salvation Front and the Tamarod movement, convinced military leaders that the incompetent and erratic Morsi, who had destroyed his own popularity by selling out to the demands of the International Monetary Fund last November, represented an intolerable risk for Egypt.
According to the Washington Post, the dissatisfaction of the Egyptian military with Morsi “peaked in June, when Morsi stood by twice as officials around him called for Egyptian aggression against Ethiopia and Syria, threatening to suck Egypt into conflicts that it could ill afford, former military officials said.”
In the spring of this year, tensions rose between Egypt and Ethiopia when the government in Addis Ababa announced its intention to build a dam on the Blue Nile, prompting concerns by some in Egypt about future water supplies downstream. On June 2, with Morsi in attendance, Islamist politicians recklessly discussed how to sabotage the dam by funding Ethiopian rebel groups, followed by an attack by the Egyptian air force. Unknown to the participants, this incendiary discussion was broadcast on live television. Many were long to see that Morsi did not repudiate these proposals for naked aggression, but instead later commented that “all options are open.”
Of course these would be at most just elements of a more complex scenario in which the disgraced President threw himself, his movement and all Egypt by repeatedly bowing to Washington, Tel Aviv and the IMF.