If you have signed up for a Bluehost hosting account and you intend to use a domain you registered through GoDaddy you will need to point that domain to your new hosting account by using custom nameservers.
The nameservers you'll need to use for Bluehost are:
GoDaddy has provided instructions on their website for setting custom nameservers. Click here to view the knowledgebase article on GoDaddy.
After making these changes it can take 24-48 hours for the new DNS information to propagate. Once you are able to enter your domain's URL into your browser and it loads a Bluehost page then you are ready to start using the domain with your Bluehost account.