Yahweh speaks to the people of Judah, and especially to the people of Bethlehem, as if he were speaking to the town of Bethlehem itself. (See: [[rc://en/ta/man/translate/figs-apostrophe]])
This is either the name of the area in which Bethlehem was situated or it is just another name for Bethlehem or it distinguishes this Bethlehem from another. Bethlehem is about six miles south of Jerusalem. It was the hometown of King David. Translators may add this footnote: "The name 'Ephrathah' means 'to be fruitful.'" (See: [[rc://en/ta/man/translate/translate-names]])
This refers to the ruler descending from the ancient family of King David. The phrases "from ancient times" and "from everlasting" mean basically the same thing and emphasize how old this family line is. (See: [[rc://en/ta/man/translate/figs-doublet]])