A bottle top dispenser for handling liquids having a piston-cylinder arrangement in an outside housing. At least one actuating button (49) that can be pressed downwards is arranged on the upper side of the outside housing. The outside housing (2) can be provided with ventilation openings (48) that can be hidden beneath the actuating button (49). The bottle arrangement is also characterized by a specific arrangement of a sensor system (65) in relation to a measuring strip (64) on a piston rod (28). The path measuring signal can be evaluated by means of a magnetoresistive sensor system, especially such a system based on the AMR effect. The arrangement of the measuring strip (64) in relation to the longitudinal central axis of the piston rod (28) is of considerable importance.