Rewrite into SQL

I have a simple piece of pl/sql code which can be written into SQL, I have rewritten but was wondering if anyone knows a more efficient way to do it?

*Original code:*

BEGIN

        FOR i IN ( SELECT cntr_no,
                        max(update_time) arrive_date,
                        max(trace_seq) mysequence
                 FROM trace_inv
                WHERE data_field= 'DELETE'
                  AND update_time <= sysdate - 60
               GROUP BY cntr_no;
        LOOP
                    INSERT INTO BACKUP_TRACE
                    SELECT *
                    FROM trace_inv
                    WHERE cntr_no = i.cntr_no
                    AND  trace_seq <= mysequence;
        END LOOP;

*Rewritten:*

INSERT INTO backup_trace
SELECT *
FROM trace_inv y
WHERE trace_seq <= (SELECT max(trace_seq)

                      FROM trace_inv x
                     where x.cntr_no = y.cntr_no
                       AND x.update_time <= SYSDATE - 60
                       AND x.data_field= 'DELETE');

Thanks all

Alex

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