The easiest way is simply not to create the subdomain. You can create a folder that corresponds and not create the subdomain in the Cpanel. You can then go to your Cpanel Domains section, and click on Simple DNS Editor. There you can create the CName that you want for your Bitly URL. This avoids the subdomain being assigned an A record as you're currently seeing.
Note: a folder created under a domain name is physically a "subdomain" and isn't automatically assigned an A record
If you have any further questions, please contact technical support or leave a comment at the bottom of the page.
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