If max holds his breath as he lifts weights,
he is performing the valsalva maneuver
he might become dizzy and light-headed
he is increasing his blood pressure
all of the above

If Max continues to hold his breath while lifting weights, he will become dizzy and light-headed. Breathing is an important component in performing weight training activities. This is because it contributes in the release of carbon dioxide in the blood which enables the muscles to take more in more oxygen. As a result, muscle contractions are more efficient and successes in lifting heavy weights will happen more often. A person must practice inhaling when there is less effort and exhaling when effort should be placed to lift the heavy set of weights.  

Probably because you wake up early. even when i get a good nights sleep i still feel tired if i wake up early. or maybe you just need coffee.