Speculation is rife concerning the centre-back's future with reports suggesting that he is Reds boss Kenny Dalglish's top target as he seeks further defensive reinforcements before the close of the transfer window.
However, the Trotters are adamant that there hasn't been any contact between the two clubs despite a dozen different potential deals being speculated about in the media, in order for the Anfield side to secure Cahill's signature.
David N'Gog and Raheem Sterling have both been touted as possible makeweights going in the opposite direction, and Bolton and their fans are now counting down the days until the window shuts at the end of the month.
Sources on Merseyside are claiming the reason why Liverpool haven't firmed up their interest in the 25-year-old as of yet, is down to the face that Dalglish must first offload personnel, before he can push ahead with plans to strengthen his squad.
Source: DSG
Source: DSG