Confused

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How do you handle a situation where you realize you have feelings for a friend but it's too late? You didn't want to speak up about your feelings for fear of ruining the friendship even though he expressed he wanted you. Now he may be talking to a mutual friend of yours and that's when everything clicks that you can't keep lying to yourself. I know I sound selfish but the news just made my heart drop and now I feel like I can't be around him anymore with these feelings. I want him to be happy but seeing him with someone I know up close makes me jealous. I feel like I'm too late even though this occurred last night but I also feel like I should distance myself because of my feelings. What to do?