The spike dying is just normal.
Usually I would expect only one leaf at a time to die back, however I have one that just finished flowering that is also loosing two, I'm not worried because I've checked the roots... and that's what I would advise here.
Take it out and check the root health, if you want to repot in moss again do that (though like others I'm not a fan of it) or get some bark or another orchid potting medium and repot into that. If the roots are fine then just assume the leaf loss is normal, but if the roots are bad that could also lead to more leaf loss than expected.
Bad roots are hollow/mushy, good roots are firm.
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