A few ideas that may help:
-The audio may have been recorded too hot. If so, then rerecord.
-if not, the attached link leads to one of many topics in the manual in relation to the subject.
Manuals , in my experience, are worth reading/searching.
I suspect this one (waveform magnifying slider, on the upper right of the project/arrange view) to have something to do with it :
I am a Cubase expert, and my point is to improve the algorithm so it is possible to see something on hot mixes.
No, my slider is on minimum.
In that case, it would seem your audio is clipping, but you would have to zoom in closer horizontally so we can actually see the peaks.
My audio is Kove - Night Thought, go check it on you tube and see if it is clipping. To me it is just fine.
My point is that Cubase has an outdated waveform representation algorithm, that struggles with modern mixe. And by struggle I mean āgives 0 informationā.
Sorry, I canāt be bothered tbh.
I disagree.
OKā¦ 
Not usre that I get you point : sound will be sound, no matter its nature, as soon as it is recorded and decoded with a numeric device. I donāt see how a waveform representation algorithm of a classic orchestra recording should be different from a āmodern mixā oneā¦ 
The way you see the waveform is relevant and is determined by some function. It reads the audio file and shows you a picture. Time flies and modern mixes become very compressed and these type of mixes looks like grey sausage without any āwavesā (details) in it. By tweaking the formula that sausage can look like a waveform again.
Itās not enough to decrease the gain in the audio. Steinberg must do something on their side.
For example, this is how it looks in another software. You can still see the trackās parts and structure.
Which one ?
Have you tried to use SpectraLayer One for this kind of waveform display? It comes with Cubase, as a free download. Maybe it could helpā¦
That audio file is clipping as hell, itās far from being fine.
No bro, itās modern music, I said the songās name already. Itās fine, sounds fine. I donāt even talk about how hard modern phonk is mixed.
It literally has 24000 clipped samples.
I fully support the statement that the wave representation deserves an update. This screenshot is from a DJ software. All major DJ Softwares and decks have these kinds of view. Iām used to the one from NI Traktor. I can read so many things just from the display of fully master tracks that are really loud. I use to load my renders into Traktor to compare with the reference from a visual angle. I would love this spectral waveforms in Cubase.
+1
nothing wrong with clipping in modern music. It sounds ok. It isnāt some noob mix that was exported without a limiter on the end.
jeez, thanks! So few people can dig it! And I donāt even ask for colors or color modulation.
Perhaps Iām old school, but I would not like my project window to look like a unicorn had a stomach flu.
Have you tried Spectral Layer One as suggested above?
Agree! Be great to a) change the waveform to any color, and have an option for Spectral view as well.
If the clip in question is from a floating-point audio format, it wonāt be clipped, but might be way out of standard audio dynamic working range.
From sounddevices.com
There is one other aspect of 32-bit float files which is not immediately obvious. Files recorded with 32-bit float record sound where 0 dBFS of the 32-bit file lines up with 0 dBFS of the 24- or 16-bit file. Keep in mind that unlike the 24- or 16-bit files, the 32-bit file goes up to +770 dBFS. So compared to a 24-bit WAV file, the 32-bit float WAV file has 770 dB more headroom.