This is known as the “He Who Does Not Sleep” icon. It sometimes shows the infant Christ with eyes open and sometimes with eyes closed. It is also known as Christ Anapeson or Christ Reclining.
It’s central message is this: God is in control. He has power over life and death. More on the icon can be read here.
Behold he who keeps Israel will neither slumber nor sleep. The Lord is your keeper; the Lord is your shade on your right hand… The Lord will keep your going out and your coming in from this time forth and for evermore. (Psalm 121:4-8)