Better pictures and some more diagnostic information may help to assess the problem. Is it just these 2 affected plants, or are more affected?
I would take both plants out of the pot, remove medium from the roots, and inspect the roots. Are the roots nice, solid and firm? Or dark/mushy?
Also, check the rhizome between pseudobulbs while the plant is out of the pot. I can't see the rhizome clearly in your photos. It should be a nice green, not brown or black. If the rhizome is brown or black (rot), but there are green healthy-looking sections still present, try cutting through the rhizome ahead of the rot. Cut only with a flame-sterilized & cooled tool (shears), or one soaked in straight bleach and rinsed. Look at the cut you made. Notice any brown, black, or purple?
I do think it could be a systemic fungal infection based on what I can see. Phytophthora has been suggested, and that could be it:
Black Rot of Orchids Caused by Phytophthora cactorum and Phytophthora palmivora in Florida
If your examination suggests a systemic fungal infection, you will need to cut off any pseudobulbs and rhizome that you suspect might be diseased (brown or black; purple in the rhizome would indicate fusarium infection). Treat anything that you want to try and save with a systemic fungicide. Skip the cinnamon, etc.; go for the big guns, or if you don't want to use those, just toss it.