The "all time high" has nothing to do with what will happen next, of course. Every time in the past that the market hit new highs it went on to have even higher-highs later (maybe the very next day, maybe in a year plus).
- If you want to bet that the market is going to fall or you want to be covered if it does, you could take the RMD and put the money into an after-tax account, invested in equities. If the market drops you can sell the shares later and harvest the losses to reduce your income (and taxes). Obviouslyu, you can't do that if it stays in the IRA. OTOH, if the market goes up the gains would be taxed at the favorable cap gains rates (0% if you are in the 15% bracket), not the higher rate they would be subject to when withdrawn from the IRA. So, I don't see any down side to taking the money now.