Why is he giving me a cold shoulder after I rejected him?

A coworker of mine asked me out on a date few months ago. I was really shocked because I never thought he likes me in that way, we've known each other for few years already. I was kind of put on a spot and I accepted the date, because I genuinely do like him as a person, and I since we don't really know each other that well I thought maybe we could get a bit closer now and see where it goes. And well, his date idea sounded fun as well, so why not. But I wasn't really in a mood for a relationship, my life is pretty chaotic right now and I also didn't quite think about him in that way yet. So anyway we went out on a date and had a great time! Then he asked me out again few days later and added some kind of romantic comment, which got me a bit worried that he might think that I'm up for a relationship. So I told him we can hangout but that I'm just not looking for a relationship right now. This was all via text, so I added that we can talk more about it if he wants to. I was being honest and polite. But then he just said that he understands and that it's all cool, no hard feelings, and that we don't have to talk about at all. I was kind of relieved, but ever since then he's been giving me a cold shoulder. He doesn't really engage in conversation with me, doesn't look at me anymore, he's acting like nothing happened. But he's all friendly and chatty with everyone else, while I feel like he sometimes is avoiding me. We're good when it comes to work, actually that's the only time he talks to me. I feel a bit left out and like he hates me. Does he really hate me? I thought we just started to get to know each other, thought we could lead somewhere, but he just gave up I guess?
Why is he giving me a cold shoulder after I rejected him?
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