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Yes, you can cancel Booking.com reservations for free in 24 hours!
I had the exact same issue today and was able to cancel for free.
My stay was non-refundable and then I found the exact same place on Airbnb for way cheaper a few minutes after I had booked it.
Since it was less than 24 hours since I booked, Booking.com does allow you to cancel your reservation for free, even if it is non-refundable.
Just go to Manage Your Bookings and you will see the option there.
