The 24-year-old has a Turkish father and has captained Turkey Under-21s in the past, with reports linking him to newly crowned Super Lig champions Galatasaray following Reading's confirmed relegation.
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"It happens every year," he told reporters, "and I keep getting bugged about it.
"I'm a Reading player. I signed a deal last summer and everyone wants to play in the best league in the world and it's gutting to not have that next year."
Nigel Adkins's men had their relegation confirmed on April 28 when they limped to a 0-0 draw with QPR but Karacan insists that the club belong in the top division.
"Reading is a Premier League club and we know we should be there and we will try our hardest to get back up. Anything can happen in the summer," he added.
"I'm a Reading player and I will be as happy as ever if I'm still here."