2004 Elantra, 70K Miles, Squeeking from Front Axle, Steering Wheel Shakes over 60
 

It began with a loud squeak from the front axle when going in reverse.

Now there's a noticeable squeak from the front right tire at most speeds, except when braking.

And the steering wheel violently shakes at speeds over 60MPH.

Is this a problem with bearings? Something else?

it could very well be the bearing yes. i just had to do my passenger front bearing.

If you find out that the bearing is OK, it could very well be a bent rim wobbling at highway speeds. Most tire shops can't fix that, you need to find one that has a Hunter machine; they do high-speed balancing.