Does lifting weights increase the rate of balding?

No, lifting weights won't increase hair loss. I suggest seeing a hair loss expert now to evaluate and go over your condition and provide you information about your best treatment options. There are great non-invasive options like prp/progesterone and/or hair transplantation. See an expert. Best, Dr. Emer

In
the realm of weight lifting and body building if you are taking a supplement or
medication that contains testosterone or results in increased levels you could
potentially provoke hair loss.   That is what we usually see in our offices
among young men having an exacerbation of their male patterned baldness. 

I really don't know how this myth got started and why it permeates the internet and fears of men. Weightlifting does not increase hair loss. Genetics certainly does. Supplements sometimes can - and so can anabolic steroids and so can dietary restrictions.