The 22-year-old Spaniard is reported to have caught the eye of Swansea City manager Michael Laudrup after making a series of impressive performances so far this season.
However, the former Real Madrid player is adamant his only focus is securing promotion with his current club.
"I don't read anything [about transfer speculation]," he told The Bolton News. "My head is in Bolton and I just want to get back with Bolton to the Premier League.
"As for Swansea, I have not spoken to anyone from the club, and they haven't told me anything."
Alonso signed for Bolton from Real Madrid in July 2010 for £1.6million and has gone on to make 27 appearances for the club.