The 2007 world champion lost control of the F14 T on the exit of Turn 4 and speared into the wall, ripping off the left front wheel and causing an early halt to proceedings.
"I was on a kerb and got some fairly massive wheelspin," said Raikkonen. "I couldn't catch it anymore and unfortunately it went directly into the wall and damaged the car.
"Things happen so I wouldn't say it's my fault. We improved the settings a lot and it's not too bad, but there's a lot of torque in the car."
Raikkonen had earlier set the third fastest time on a day when Mercedes dominated the timesheet once again.
Bahrain test day four report
The Finn's crash and the telemetry issue he suffered on Friday have limited Ferrari's running and delayed a plan to try a race run with the F14 T.
But Raikkonen does not feel this puts the team at a disadvantage compared to Mercedes, which completed a race run of more than 50 laps with Nico Rosberg at the wheel on day four.
"We always want more laps, but today we didn't have any problems," Raikkonen added.
"Obviously I damaged the car with the crash and there were many red flags, but we did more or less what we wanted to. I don't think it's an issue.
"We could do long runs but the plan was to do something different. In the next test for sure we can do them."