Many complex electronic systems exhibit so-called pseudogaps, which are poorly-understood suppression of low-energy spectral intensity in the absence of an obvious gap-inducing symmetry. Here we investigate the superconductor $Ba_{1-x}K_{x}BiO_{3}$ near optimal doping, where unconventional transport behavior and evidence of pseudogap(s) have been observed above the superconducting transition temperature $T_{c}$, and near an insulating phase with long-range lattice distortions. Angle-resolved photoemission spectroscopy (ARPES) reveals a dispersive band with vanishing quasiparticle weight and tails of deep-energy intensity that strongly decay approaching the Fermi level. Upon cooling below a transition temperature $T_{p} > T_{c}$, which correlates with a change in the slope of the resistivity vs. temperature, a partial transfer of spectral weight near $E_{F}$ into the deep-binding energy tails is found to result from metal-insulator phase separation. Combined with simulations and Raman scattering, our results signal that insulating islands of ordered bipolarons precipitate out of a disordered polaronic liquid and provide evidence that this process is regulated by a crossover in the electronic mean free path.
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