Is there Something Wrong With My PS3!?!?!?!?!?!?

I was playing call of duty black ops and then all of the sudden my PS3 shut off and the light next to the power button was flashing red what does that mean? i clicked the button and it stopped blinking then i hit it again and it turned on it seems to be working fine now. But why did it shut off like that did it overheat or what? PLEASE Answer Thank you