Your Phalaenopsis had root rot 2 years ago, recovered in loose moss. A spike appeared 6–8 weeks ago but turned brown at tip with brown "sap" drop; brown is spreading down. Could root rot have returned? Will cutting the brown part induce a new spike?
Even with rotten roots, Phalaenopsis typically push flowers using leaf reserves. A spike dying without buds suggests a different problem.
Orchid sap is usually clear. Brown droplet indicates possible infection or pest damage.
Loose packing helps, but moss still compacts and rots roots annually. Repot in bark/perlite/charcoal mix for longevity.
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