Yesterday's ominous closed-door meetings between the PBOC and bitcoin exchanges, appears to have had a dramatic effect, and as at least two Chinese bitcoin exchanges, Huobi and OKCoin, reported moments ago, all bitcoin withdrawals are now effectively suspended.

The result on bitcoin price was immediate and dramatic with bitcoin traded in China tumbling 7%.

This is the third major plunge driven by PBOC words (or deeds) pushing the dollar price of Bitcoin back below $1000

Here is the statement issued by Huobi, which we assume will be cross-posted by all other Chinese bitcoin marketplaces, in what appears to be the final crackdown phase by the Chinese central bank on local bitcoin traders (google translated).: