When the Seagulls signed Caicedo in February 2021, they saw off widespread interest in a player who was being tipped to become a star player to emerge from South American football.
Although Caicedo would spend a relatively unproductive spell on loan at Belgian side Beerschot, he has since established himself as a key player for Graham Potter's team.
In total, the 20-year-old has made just 14 appearances in the Premier League, but the level of his performances have been enough to generate admirers elsewhere.
While Manchester United hold a long-term interest in the youngster, Liverpool emerged as the most likely team to sign Caicedo during the back end of the summer transfer window.
Jurgen Klopp had a change of heart over pursuing a fresh face for the centre of his midfield, seemingly sending the German in the direction of Caicedo.
On the back of already parting ways with Marc Cucurella and Yves Bissouma, Brighton had no interest in cashing in on another of their prized assets so close to the end of the business until January.
However, according to Tera Deportes, Liverpool have been informed that club officials will be more receptive to offers in January or next summer.
The South-coast outfit have allegedly told Liverpool that they are willing to 'prioritise' negotiations should they reignite their interest.
Brighton are said to have wanted to wait until after the World Cup, which takes place in November and December, before entertaining any proposals for arguably their most prized asset.
Although Caicedo's valuation has already moved in excess of £40m, Brighton will feel that could rise even further with more productive performances for his country.
Caicedo has already earned 23 caps for Ecuador, playing a leading role as they qualified in fourth place behind Brazil, Argentina and Uruguay in the CONMEBOL standings.
The player, who cost Brighton just £4.5m, has a contract at the Amex Stadium until the end of the 2024-25 campaign.