I just want to clarify something. SPS "bleaching" is when the coral expels some of it's zooxanthellae. It fades in color but is very much alive. There is no tissue recession and the polyps are usually visible.
What you described as "bleaching from base up" is actually Tissue necrosis. You'll read RTN (rapid tissue necrosis) and STN (slow tissue necrosis) on many sps threads. Basically, your coral is dying.
Many reasons why this happens, most we don't fully understand. You'll get a variety of reasons from different hobbyists but truthfully, most reasons are educated guesses.
IMO you should stay away from SPS for a while until you upgrade your lighting. Your tank looks pretty clean and it seems to be maintained well. You need a 6 or 8 bulb t5 fixture for a tank that size. All your coral will benefit from an increase in light and I think your success rate with SPS might change for the better