Actually im racing drones. In our case receiver antenna is mounted to the carbon arm, it should be mounted that as small as possible surface of antenna goes along with the carbon. So would make it worst if antenna would be inside of carbon part like inside of bike. For 2.4GHz transmitters we use 25mW and 100mW (airtags must be some very low wattage to be able to work for a year on that tiny battery). Producers say that max range is 25km (idk in which conditions;)). I would say few km in line of sight should be archiveable but i never tested how far can i go.
I think mounting under the seat should work best for bike. But would be easy to find and take off:) Not perfect solution for securing the bike:)
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