Bolton slid to the bottom of the Premier League on Saturday after Wolves fought back to snatch a 1-1 draw at the Reebok Stadium.
Sam Ricketts scored a superb opener for Wanderers on 22 minutes, curling a shot into the top corner from 25 yards to mark his return from a 10 month injury lay-off in style.
But Steven Fletcher nodded in the equaliser for Wolves just after half-time following a pinpoint Matt Jarvis cross to secure a valuable point for the visitors.
It was another disappointing result for under pressure Bolton boss Owen Coyle, whose side finished 2011 with just nine wins from 36 matches.
An open game saw Fabrice Muamba and Gretar Steinsson both go close for Bolton only to be denied by good saves from Wolves keeper Wayne Hennessey.
But Wolves also had Bolton on the rack during the closing stages, with Jussi Jaaskelainen saving well from Kevin Doyle and substitute Tuncay Sanli rattling his own post with a header after a Wolves corner.
The result saw Wolves move above QPR into 16th place after Rangers defeat at Arsenal.
Wolves manager Mick McCarthy later revealed that the club's battle to beat the drop had been bolstered by the loan signing of Arsenal's talented young midfielder Emmanuel Frimpong on loan from January 1.
Frimpong could be ready to face Chelsea on January 2, McCarthy told the BBC. "It's done and I'm delighted because I think he's a terrific young player," McCarthy said.