Bulent has made just three appearances for the Trotters since joining the club on a free transfer from Galatasaray.
Bolton boss Sam Allardyce told the club's official website: "We decided from both our points of view that another club would probably be a better avenue for Akin.
"It is a huge disappointment for both of us on the back of what his CV suggested when he came to us.
"But having to overcome a cruciate ligament repair held him back and I was not willing to take a risk and see what he could do."