Did I overreact?!

My bf and I went to a party last weekend. And there was a girl there that we are both friends with. But when he thought I wasn't paying attention he started saying some I appropriate things to her. Such as, if I were single I would be chasing you so hard. (his way of saying I would be trying to get with you) then he kept wrapping his arms around her all night. After we left we had a huge argument and he told me I was just blowing things out of proportion. Was I overreacting?!?!