Is he shy because he likes me or is he shy because he only sees me as a friend?

I been really cool with one of my male friends (31). We been playfighting a lot, cuddling a lot, he's been lifting me up a lot and we are generally just very close and touchy. He isn't in a relationship and does sleep around once in a while - if a woman is interested that is and recently instead of placing his hand on my stomach / waist he placed it near enough around one of my boobs cupping it. He realized and immediately got super embarrassed, apologized and even exclaimed how embarrassing that is and turned super red. I didn't get it really bc he's unkowingly done it (but from the side) before so I wasn't even sure why he got so super embarrassed. I didn't even mind I just rather thought it was funny that he miscalculated where my waist was. (I am super comfy with him so idc) Can someone explain to why he literally turned into a tomato at 31?

Is he shy because he likes me or is he shy because he only sees me as a friend?
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