Problem in "recording"


I suddenly started to have a problem in how the recorded soundwave looks: it seems to clip (see attachment), which is not true. The problem applies only to my new projects. With exactly same guitar volume and sound card settings I get a nice sound wave in older projects. I must have changed some settings by accident - anybody knows a remedy?

PS. I have already tried creating several new projects.

On the right side under the / symbol you have the wave zoom slider turned up.