Using a single Cree XP-G driven at 1000 mA (250% luminous flux; about 300 raw lumens), you are burning 3.2 volts × 1 A = 3.2 watts. A high quality 18650 is 3.6 AAh × 3.7 v = 13.3 wattswatt-hours. Boost driver efficiency at 85% gives you 11.3 wattswatt-hours, so you have just under 4 hours of time with an 18650 at full (250%) power.
Mountain bikes have a handlebar diameter of 22mm . 18650s have a nominal diameter of 18mm (i.e., 18-650) but are often closer to 19mm actual because of the insulation and power protection circuitry). It's a tight squeeze. It won't work with many drops.
14500 lithiums would fit for sure as they're the same dimension as AAs (14mm D x 50mm L). However, they only have 900 mAh (fake ones will advertise more but are fake) which is 3.2 watt-hours or about 3 watt-hours after booster. So just about one hour of full (250%) power with one 14500, but you can serially gang the 14500 into two or three, depending on the curve of your handlebar (which would limit which bars it could fit into).