A wheel telemetry system providing a set of riding information to a rider includes a wheel-mounted portion and a control unit in wireless communication. The wheel-mounted portion is attached to one or both bicycle wheels and includes an accelerometer, pressure sensor, and/or temperature sensor and a programmable microcontroller. The accelerometer monitors movement of the wheel(s) in one or more of the x-, y-, and z-planes. Accelerometer data, (and optionally tire pressure data and/or temperature data), is transmitted to the control unit for monitoring and/or data logging. Movement of a previously motionless bicycle may also be used to trigger an alarm when the control unit is not detected within a predetermined distance from the bicycle.