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Hi @Akshay ,
Our engineering team has identified what was causing this issue and a fix has been deployed. Account creation for Bitbucket Cloud should work now as expected. Our apologies for the inconvenience caused by this.
Could you please confirm is the issue is resolved for you now?
If you need anything further please feel free to let me know.
Here is some additional information about the incident: https://bitbucket.status.atlassian.com/incidents/c82sx43p72lk