Wikipedia the most credible source of information on the internet defines a bitch as:
A bitch is a female canine. It is also a common English profanity for a woman that typically carries denigrating or misogynistic overtones�such as resemblance to a dog. It is also used to characterize someone who is belligerent and unreasonable, or displays rudely intrusive or aggressive behavior.
Its original use as a vulgarism, documented to the fourteenth century, suggested high sexual desire in a woman, comparable to a bitch in heat. The range of meanings has expanded in modern usage. In a feminist context, it can indicate a strong or assertive woman, one who might make men feel threatened. When applied to a man, "bitch" is a derogatory term for a subordinate.
What does this mean? Fuck if I know. Bitches appear often in pop culture as the signal that you have "made it". Dr Dre wrote his bitch theory in the song "Bitches ain't shit".