**Bitcoin Hits New Monthly Low Amid Market Uncertainty**

Bitcoin (BTC) dipped to a new monthly low on September 8, hitting $55,282 on Bitstamp during the Asian trading session. Analysts are sounding alarms as BTC approaches critical support levels.

- **Key Levels to Watch**: The 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA) are crucial. Currently, the SMA is at $63,840 and the EMA at $59,462. If BTC closes below $54,000, it could signal a significant downtrend.

- **Market Sentiment**: Popular analysts like Caleb Franzen and traders like Arthur Hayes and Peter Brandt express concerns. Hayes even took a short position, anticipating BTC to drop below $50,000.

- **Technical Indicators**: Despite the bearish outlook, a bullish divergence in Bitcoin's Relative Strength Index (RSI) suggests potential short-term recovery.

Stay tuned for more updates as the market reacts to upcoming U.S. unemployment data.