Bitbucket has launched a build status API that allows integration with tools like Buildkite to provide real-time updates on pull request statuses, indicating whether they are safe to merge. This integration enables users to see live updates of Buildkite builds and individual steps within the build pipeline directly on the Bitbucket pull request page. The feature allows users to view which steps have passed or failed and access detailed build outputs for each step. To utilize this feature, users simply need to connect their Bitbucket account, after which pull request statuses will automatically appear with direct links to Buildkite builds, and an updated Bitbucket section in project settings allows for managing status updates.