Ethereum slips below $2,300 as Binance shorts deepen and open interest rises

Ethereum has fallen under $2,300 after a cautious rebound, while derivatives positioning on Binance has turned more aggressively bearish. Binance cumulative net taker volume dropped to about -$585 million versus roughly -$340 million on March 27, alongside open interest rising from about $2.46 billion to $2.9 billion in the first week of May. ETH is trading near $2,280, consolidating under the $2,300–$2,400 zone as the market weighs short pressure against steady spot demand signals.