Cattleya with shriveled pseudobulbs

[NYCorchidman]

As mentioned by others above, it is either root damage or underwatering.

It is common but it is not the optimal condition.
I see many many well grown cattleya with many pbs all of which are plump. so old pb going wrinkly is not natural.
and you mentioned that your plant also had all of its pbs plump at the time of purchase.

Unless you are growing in the greenhouse with good humidity and good watering system, I find it nearly impossible to have all the pbs plump.

Do what Tucker suggested.

[james mickelso]

We buy orchids from wherever, ready to bloom or already in bloom, and they look gorgeous. Orchids are slow growers and therefore slow changers. They look great but lingering underneath that gorgeous exterior can be numerous problems that we can't see before buying. I've seen many, many orchids that look great and yet when purchased and taken home, turn out to have rotted roots or worse, diseases. So the flowers fall and the pbulbs wrinkle or the leaves turn yellow, or get some form of rot. If "you" grow the orchid to completion, chances are you can get the pbulbs to stay plump. To a point. But most likely if someone else has grown it in a green house setting with ample light/warmth, ample water, and especially ample air circulation, it is tough to keep it growing optimally when we get it home. Changes in culture and/or environment usually sets the plant back a season. Don't despair. Just give it what it needs and it will quickly thrive again.

[rosebudforglory]

Or a food scale until they really learn the difference.