No. Because the very concept of bitstreaming is that MC does not decode the source audio and sends it to the DAC as-is, which means, there is no way for it to alter the volume level of the source.
If you have MC decode the audio, and output PCM (in-other-words, high-quality uncompressed digital audio, just like your DAC produces) then it can do this, and does it with a very high-quality digital volume control.
But, if you bypass the entire MC audio engine by bitstreaming, then it cannot, by design, alter the audio in any way.