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 longrange 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.Pseudogaps represent a departure from the expectations of standard band theory and the Fermi liquid theory of electronic excitations, which together serve as a successful starting point for understanding many condensed matter systems. They could potentially originate from any ways in which the conventional theories might break down, e.g., due to disorder, fluctuations, strong interactions, and/or strong correlations. But it is also conceivable that some observed pseudogaps might be less mysterious than they first seem, in the sense that they are rooted a "hidden" order