I am in my own bubble so the trade market for me has not been affected. In fact the deeper we've gone into this, the more picks I've been able to get for talent. Point in case trading Artis and Erving got me way way more than trading Nash and Kidd.
The picks are still out there, me owning middling teams picks and teams continuing to try to compete without having their picks is what is killing the trade market. Take the Pelicans for example, he could get his picks back if he wants, but he doesn't want to and just continues to push for the 8th seed. The Thunder could've traded for their pick but instead decided to piece together a team recently. I assume the Cavaliers will go the same route. Then look at a team like the Lakers who didn't have their picks. Instead of continuing to kick the can down the road and never get good, they accepted their fate and let the picks fall wherever. Now they have all of their picks, can draft top talent, and the rebuild is beginning. If more teams handled their situation like the Lakers, the trade market would be fine. And this isn't specific to me either, Henny would have traded all of his picks, and actively is trading them elsewhere. If I didn't have his picks, someone else would. That goes for all of the middling teams right now.