The Toffees initially valued Batshuayi at around £18m ($24m) and, due to their lack of hope in securing a deal for the Belgium international, they are thought to also be denying Cenk Tosun an exit from Goodison Park.
Batshuayi is understood to be desperate to find an escape route from his Valencia loan deal where he has only managed three goals in 10 starts.
Monaco had agreed a deal to take over Valencia's remaining six months of their loan deal, but Chelsea held off allowing him to leave as they preferred to sell one of their 42-strong loan group.
And Goal understands that both West Ham and Real Betis have now agreed a deal with Chelsea to sign Batshuayi on loan, while the player looks to make a decision before the transfer window closes on Thursday.
Batshuayi has been training in Valencia but the Liga club were also hoping to get the striker's high salary off their wage bill.
Valencia coach Marcelino suggested earlier in January that he was running out of patience with Batshuayi after substituting the forward during a shock Copa del Rey defeat to Sporting Gijon.
Batshuayi was given only 45 minutes before being substituted, in a decision Marcelino defended as "tactical" after the final whistle.
But the coach also let slip his concerns over his attacking options in strong post-match comments.
"We need signings up front. In some cases our patience has run out," he fired to reporters, while stopping short of naming either Batshuayi or Kevin Gameiro as the subject of his ire.
Chelsea boss Maurizio Sarri is also understood to not be interested in bringing back Batshuayi, with Gonzalo Higuain and Olivier Giroud to be his two strikers for the remainder of the season.
Giroud had offers to leave Chelsea on a permanent deal in January but he prefers to stay with the club until the end of the season, snubbing moves to the Chinese Super League in the process.
Additional reporting from Neil Jones