I know the question was about Cloud Bitbucket API, but leaving also the answer here for those who did such a search for a Server installation and found this, like me.
There's default-branch
endpoint of the repo which serves the default branch name without fetching all the branches
rest/api/1.0/projects/{project_key}/repos/{repo_slug}/default-branch
Response example:
{
'id': 'refs/heads/master',
'displayId': 'master',
'type': 'BRANCH'
}
Tested on v8.19
.