When a guy jokingly calls you his "bitch"?

I have a close friendship with my crush. I'm not positive that he likes me, but we're really good friends and love to tease and banter. The other day we were hanging out with his group of friends. We were "insulting" each other and he suddenly put his arm around me in front of everyone and said I was his bitch.

Now i know some girls would get offended but I didn't care, he even sincerely apologized afterwards to make sure I wasn't mad. I'm just wondering what you guys think. Do you think it means something special or was he only just fooling around?
When a guy jokingly calls you his "bitch"?
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