Caicedo joined Brighton & Hove Albion from Ecuador's Independiente del Valle in February 2021, before he was sent on loan to Beerschot for the first half of the 2021-22 season.
The 21-year-old has since established himself as first-team regular for the Seagulls, and he has started all 14 of the club's Premier League games this season.
After showing an interest while he was at Independiente del Valle, Man United and Newcastle continued to be linked with the midfielder, while Chelsea are also believed to be among his admirers.
According to The Sun, Brighton have informed prospective buyers that they would only consider selling Caicedo for a fee between £60 and £70m.
Caicedo in under contract with Brighton until June 2025, and he continued to impress at the World Cup, where he started all three games for Ecuador.
Despite scoring against Senegal in his country's final group game, Ecuador ultimately lost 2-1 and were knocked out of the tournament.