That means your phone is not bluetooth-connected to your tracker, probably out of range. On Sense 2 it would come up on top of screen as display turns on for a couple of seconds, then goes away. It is just as an alert/reminder; maybe you don't care, or maybe you are about to head to work and have left your phone at home. There are a few other symbols that might also appear which correspond to symbols you can see on your "Quick Settings" by swiping down from clock face. Some of these could be very helpful, such as telling you if you have accidentally turned on Sleep Mode or are Do Not Disturb Mode. I always forget the name of this alert or whatever it's called to find in Help section. It originally was on a few older models; then was added to some newer models a few months ago.
Before posting, re-read to see if it would make sense to someone else not looking at your Fitbit or phone.
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