Sort of, electricity and magnetism are two sides of the same coin, electromagnetism, so it's waves in the electromagnetic field with the wire acting as a wave guide. (as far as I understand)
Veritasium has a video that goes over this. It was pretty controversial at release but it gives a good overview.
https://youtu.be/oI_X2cMHNe0
Veritasium has a video that goes over this. It was pretty controversial at release but it gives a good overview. https://youtu.be/oI_X2cMHNe0
And why magnets work due to relativity https://youtu.be/1TKSfAkWWN0